(1) When two or more companies
are amalgamated or merged in pursuance of an order of court or of Tribunal or otherwise and the order is to
take effect from a date earlier to the date of the order and any two or more of such companies have supplied
or received any goods or services or both to or from each other during the period commencing on the date
from which the order takes effect till the date of the order, then such transactions of supply and receipt shall
be included in the turnover of supply or receipt of the respective companies and they shall be liable to pay
tax accordingly.
(2) Notwithstanding anything contained in the said order, for the purposes of this Act, the said two or more companies shall be treated as distinct companies for the period up to the date of the said order and the registration certificates of the said companies shall be cancelled with effect from the date of the said order.
(2) Notwithstanding anything contained in the said order, for the purposes of this Act, the said two or more companies shall be treated as distinct companies for the period up to the date of the said order and the registration certificates of the said companies shall be cancelled with effect from the date of the said order.