Amendment status not verified — confirm the current text below against the official source.
Clause (vii) was deleted, by Guj, 25 of 2006, Part 1, s.5 (1). Net amount of Value Added Tax. Option for payment of lumpsum tax in lieu of tax on sales. Gujarat Value Added Tax Act, 2003. [2005 : Guj. Explanation.—For the purpose of permission under this clause, for the year commencing on the 1st April, 2006 and ending on the 31st March, 2007, the total turnover shall be calculated with reference to the Gujarat Sales Tax Act, 1969.] 62[(b) The permission granted under clause (a) shall remain valid so long as the total turnover of the registered dealer does not exceed rupees fifty lakhs or the registered dealer does not undertake any of the activities mentioned in 63[clauses (i) to (vi)] of the proviso to clause (a). In case, where total turnover of a registered dealer exceeds rupees fifty lakhs or the registered dealer undertakes any of the aforesaid activities during the course of the year, he shall be liable to pay tax under sections 7 and 9 for such tax period as may be prescribed for this purpose.] Explanation.--: For the purpose of permission under clause (a) for the year 2003-04 total taxable turnover shall be calculated with reference to the Gujarat Sales Tax Act, 1969. (2) The State Government may, fix the rate of lump sum tax by notification in the Official Gazette. (3) A dealer who is permitted under sub-section (1) to pay lump sum tax shall not,- (a) be entitled to claim tax credit in respect of tax paid by him on his purchases, (b) charge any tax under this Act in his sales bill or sales invoice in respect of the sales on which lump sum tax is payable; and (c) issue tax invoice to any dealer who has purchased the goods from him. 64[(4) A dealer who is permitted under sub-section (1) to pay lump sum tax shall be liable to pay 65[tax leviable under sub-sections (1), (3) and (6)] of section 9, in addition to the lump sum tax under this section.] 66[14A. (1) Notwithstanding anything contained in this Act, the Commissioner may, in such circumstances and subject to such conditions as may be prescribed, permit every dealer referred to in sub-clause (f) of clause (10) of section 2 to pay at his option in lieu of the amount of tax leviable from him under this Act in respect of any period, a lump sum tax by way of composition at such rate as may be fixed by the State Government by notification in the Official Gazette having regard to the incidence of tax on the