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Amendment of section 12C (special scheme for agricultural machinery) of Principal Act.
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114.—Section 12C (inserted by the Act of 1999) of the Principal Act is amended by the insertion of the following subsections after subsection (1):
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“(1A) A taxable dealer who purchases agricultural machinery from a person where the disposal of that agricultural machinery by such person to such taxable dealer was deemed in accordance with section 3(5)(c) not to be a supply of goods shall, subject to the provisions of this section and in accordance with subparagraph (vib) of paragraph (a) of subsection (1) of section 12, be entitled to deduct the residual tax, determined by the formula in subsection (3), contained in the price payable by such taxable dealer in respect of that purchase.
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(1B) A person who disposes of agricultural machinery to a taxable dealer where the disposal of that agricultural machinery by such person to such taxable dealer was deemed in accordance with section 3(5)(c) not to be a supply of goods shall issue a document to the taxable dealer to whom the disposal is made and shall indicate on the document—
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(a) that person’s name and address,
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(b) the name and address of the taxable dealer,
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(c) the date of issue of the document,
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(d) a description of the agricultural machinery, including details of the make, model and, where appropriate, the year of manufacture, the engine number and registration number of that machinery,
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(e) the consideration for the disposal of the agricultural machinery,
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(f) confirmation that the disposal is deemed in accordance with section 3(5)(c) not to be a supply of goods, and
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(g) such other particulars as may be specified by regulations, if any.”.
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