Sec. 26. (a) The gasoline use tax collected under this chapter is considered equivalent to the state gross retail tax that would be collected by a retail merchant in a retail sale and replaces the obligation of the retail merchant to collect the state gross retail tax on the sale of gasoline.
(b) Except for the exemption under IC 6-2.5-5-8 for property acquired for resale in the ordinary course of business, the exemptions set forth in IC 6-2.5-5 apply to the gasoline use tax imposed by this chapter.