Amendment status not verified — confirm the current text below against the official source.
(I) Every dealer shall apply for grant of certificate of registration under this Compulsory Regulation if- and voluntary regishation. (a) the turnover of the dealer in the year immediately preceding the commencement ofthis Regulation exceeded the taxable quantum; or (b) the Nmover of the dealer in the year during which this Regulation comes into force or any year thereafter, exceeds the taxable quantum; or (c) the dealer is liable to pay tax, or is registered or required to be registered 9 under the Central Sales Tax Act, 1956: Provided that a dealer dealing exclusively in goods mentioned in the First Schedule shall not be required to obtain certificate of regishation under this Regulation. (2) For the purposes of this Regulation, "taxable quantum" of a dealer shall be five lakh rupees, or such other amount as may be specified, by the Government, by notification: Provided that in the case of a dealer who imports for sale any goods into the Daman and Diu, the taxable quantum shall be "Nil" or such other amount as may be specified, by. notification, by the Govemn~ent. (3) For the purposes of this section, in case of dealers involved in execution of works contracts, the taxablequantum shall be calculated with reference to thetotal contract amount received. (4) The taxable quantum of a dealer shall not include turnover from- (a) the sales of capital assets; (b) the sales made in the course of winding up business of the dealer. (5) Any person, who is not required by sub-section (I) to be registered, but who is a dealer; or intends from a particular date to undertake the business which would make him a dealer, may apply for grant of certificate of registration.