Section 5A: Tax not to be levied on Transfer of ownership of transactions may not affect

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Notwithstanding anything contained elsewhere in this Act, in cases where a registered person sells the transaction being carried out by him/her to any other registered person, not tax shall be levied on such transfer of ownership. The registered person shall, in so selling the transactions, give information thereof to the Department as prescribed.

Provided that, the registered person who purchases such transactions shall bear the tax liability of the predecessor.

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Section 5A: Tax not to be levied on Transfer of ownership of transactions may not affect

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