Section 6-2.5-3-4 - Exemptions(a) The storage, use, and consumption of tangible personal property in Indiana is exempt from the use tax if: (1) the property was acquired in a retail transaction and the state gross retail tax has been paid on the acquisition of that property; or(2) the property was acquired in a transaction that is wholly or partially exempt from the state gross retail tax under any part of IC 6-2.5-5 and the property is being used, stored, or consumed for the purpose for which it was exempted.(b) If a person issues a state gross retail or use tax exemption certificate for the acquisition of tangible personal property and subsequently uses, stores, or consumes that property for a nonexempt purpose, then the person shall pay the use tax.Amended by P.L. 137-2022,SEC. 16, eff. 7/1/2022.Amended by P.L. 146-2020,SEC. 9, eff. 7/1/2020.As added by Acts1980 , P.L. 52, SEC.1.