S.L. 406.1 Art. 8Trading stock of locally manufactured goods held by a retailer.

Where the applicant is a retailer and the trading stock consists of loeally manufactured goods:

(a) consisting of raw materials on which no excise tax on imports had been paid, such refund shall be at the rate of 5% of the invoice cost, but exclusive of excise tax on products paid thereon;

(b) consisting mainly or wholly of raw materials on which excise tax on imports has been paid, such refund shall be at the rate of 10% of invoice cost, but exclusive of excise tax on products paid thereon.