48. Adjustments. When an adjustment event occurs‚ a taxpayer may, at such amount‚ on such terms‚ within such time and in such manner as may be prescribed, claim adjustments in the following cases‚ namely:—

(a) an increasing or decreasing adjustment with respect to withholding tax;

(b) an increasing or decreasing adjustment applicable in consequence of an annual re- assessment;

(c) an increasing adjustment for not making payments through banking channels;

(d) an increasing adjustment for goods put to a private use;

(e) an increasing adjustment of input tax and VAT on being registered;

(f) an increasing adjustment on cancellation of registration;

(g) an increasing adjustment for payment of any interest, monetary penalty, fine, fee, etc;

(h) a decreasing adjustment in relation to second-hand goods purchased for re-sale;

(i) a decreasing adjustment in relation to a policy of insurance;

(j) a decreasing adjustment in relation to a lottery, lucky draw, raffle draw, housie or similar undertakings;

(k) an increasing or decreasing adjustment for the change in the tax-rate;

(l) a decreasing adjustment allowed for a negative amount carried forward from a previous tax period;

(m) a decreasing adjustment allowed for VAT overpaid in a previous tax period; or

(n) any other prescribed increasing or decreasing adjustment.