Amendment status not verified — confirm the current text below against the official source.
Inthe principal Act, in section 10, — Amendment : £ of section 10. (1) insub-section (1), after the second proviso, the following Explanation shall be inserted, namely : — “Explanation — For the purposes of second proviso, the value of exempt supply of services provided by way of extending deposits, loans or advances in so far as the consideration is represented by way of interest or discount shall not be taken into account for determining the value of turnover in the State.”; (2) insub-section (2),— (@) inclause (d), the word “and” oceurring at the end shall be omitted ; (B) inclause (), for the word “Councit”, the words “Council ; and” shall be substituted; 2 The Arunachal Pradesh Extrzordinary Gazette, February 18, 2020 (c) afterclause (e), the following clause shall be inserted, namely: — “(fy heisneithera casual taxable person nora non-resident taxable person:"; (3) after sub-section (2), the following new sub-section shall be inserted, namely : — “(2A) Notwithstanding anything to the contrary contained in this Act, but subject to the provisions of sub-sections (3) and (4) of section 9, a registered person, not eligible to opt to pay tax under sub- section (1) and sub-section (2), whose aggregate turnover in the preceding financial year did not exceed fifty lakh rupees, may opt to pay, in lieu of the tax payable by him under sub-section (1) of section 9, an amount of tax calculated at such rate as may be prescribed, but not exceeding three per cent. of the turnover in the State, if he is not— (a) engaged in making any supply of goods or services which are not leviable to tax under this Act | (b) engagedin making any inter-State outward supplies of goods orservices ; (c) engagedin making any supply of goods or services through an electronic commerce operator who is required to collect tax at source under section 52 ; (d) a manufacturer of such goods or supplier of such services as may be notified by the Government on the recommendations of the Council ; and (e) acasual taxable person ora non-resident taxable person: Provided that where more than one registered person is having the same Permanent Account Number issued under the Income-tax Act, 1961, the registered person shali not be eligible to opt for the scheme under this sub-section unless all such registered persons opt to pay tax under this sub- section.”,; (4) insub-section (3), after the words, brackets and figure “under sub-section (5 (8 (7 (1)" atboth the places where they occur, the words, brackets, figure and Jetter “or sub-section (2A), as the case may be,” shall be inserted. in sub-section (4), after the words, brackets and figure “of sub-section (1)", the words, brackets, figure and letter “or, as the case may be, sub- section (2A)" shall be inserted in sub-section (5), after the words, brackets and figure “‘under sub-section (1)", the words, brackets, figure and letter “or sub-section (2A), as the case may be,” shall be inserted after sub-section (5), the following Explanations shall be inserted, namely: — “Explanation 1.— For the purposes of computing aggregate turnover of a person for determining his eligibility to pay tax under this section, the expression “aggregate turnover” shall include the value of supplies made by such person from the 1st day of April of a financial year up to the date when he becomes liable for registration under this Act, but shall not include the value of exempt supply of services provided by way of extending deposits, loans or advances in so far as the consideration is represented by way of interest or discount. Explanation 2. — For the purposes of determining the tax payable by a person under this section, the expression “tu i ’ f ; mover in State” include the value of following supplies, namely : — Bonee (a) supplies from the first f April of a finan o the date day of April of a fi ial y \ a financial year up when such person becomes liable for registrati w: i h h gistration under this Act; (b) exemptsu pply of services provi loans or advances in so farp vided by way of extending deposits, S as i ; way of interest or discount the consideration is represented by Central Act 43 of