Page:United States Statutes at Large Volume 92 Part 3.djvu/556

 92 STAT. 3188

PUBLIC LAW 95-618—NOV. 9, 1978

dfJt; •-•''..• '-> 14 #r >c J •/

J

evidence of the inventories with respect to which the credit or refund is claimed as may be required by regulations prescribed b}' the Secretary of the Treasury under this subsection. (3) OTHER LAWS APPLICABLE.—All provisions of law, including

penalties, applicable with respect to the taxes imposed by section 4061(a) of the I n t e r n a l Revenue Code of 1954 shall, insofar as applicable and not inconsistent with paragraph s (1) and (2) of this subsection, apply in respect of the credits and refunds provided for i n paragraph (1) to the same extent as if the credits or refunds constituted overpayments of the tax.

26 USC 4061. i

(c) R E F U N D S W I T H EESPECT TO CERTAIN CONSUMER P U R C H A S E S. —

(1) IN GENERAL.—Except as otherwise provided i n paragraph (2), where on or after April 20, 1977, and on or before the date of the enactment of this Act, a tax-repealed article (as defined in subsection (e)) has been sold to an ultimate purchaser, there shall be credited or refunded (without interest) to the manufacturer, producer, or importer of such article a n amount equal to the tax paid by such manufacturer, producer, or importer on his sale of the article.

• •'"••''. ' ' i • i ',

(2) L I M I T A T I O N ON ELIGIBILITY FOR CREDIT O REFUND.—No manR

! '• '•'-

.Kc. *

J d% -

.1 c. >'!*";:: r.) Sw

w.;; '

. t J

ufacturer, producer, or importer shall be entitled to a credit or refund under paragraph (1) with respect to an article unless— (A) he has in his possession such evidence of the sale of the article to an ultimate purchaser, and of the reimbursement of the tax to such purchaser, as may be required by regulations prescribed by the Secretary of the Treasury under this subsection; (B) claim for such credit or refund is filed with the Secretary of the Treasury before the first d a y of the 10th calendar month beginning after the d a y after the date of the enactment of this Act based upon information submitted to the manufacturer, producer, or importer before the first d a y of the 7th calendar month beginning after the d a y after the date of the enactment of this Act by the person who sold the article ( i n respect of which the credit or refund is claimed) to the ultimate purchaser; and (C) on or before the first day of such 10th calendar month reimbursement has been made to the ultimate purchaser in an amount equal to the tax paid on the article. (3) OTHER LAWS APPLICABIJE.—All provisions of laws, i n c l u d i n g

penalties, applicable with respect to the taxes imposed by section 4061(a) of such Code shall, insofar as applicable and not inconsistent with paragraph (1) or (2) of this subsection, apply with respect to the credits and refunds provided for in paragraph (1) to the same extent as if the credits or refunds constituted overpayment of the tax. (d) CERTAIN U S E S BY MANUFACTURER, E T C. — Any tax p a i d by leason

26 USC 4218.

of section 4218(a) of such Code (relating to use by manufacturer or importer considered sale) on any tax-repealed article shall be deemed an overpayment of such tax if the tax was imposed on such article by reason of such section 4218(a) on or after April 20, 1977. (e) DEFINITIONS. — For purposes of this section— (1) The term "dealer" includes a wholesaler, jobber, distributor, or retailer. (2) A n article shall be considered as "held by a dealer" if title thereto has passed to such dealer (whether or not delivery to, him has been made) and if, for purposes of consumption, title to

�