Amendment status not verified — confirm the current text below against the official source.
These figures, letters and words were substituted, for the figures, letters and word "14B or 14C" ibid., Part II, s.12. Gujarat Value Added Tax Act, 2003. [2005 : Guj. (32) “turnover of purchases” means the aggregate of the amounts of purchase price paid or payable by a dealer in respect of any purchase of goods made by him during a given period after deducting the amount of purchase price, if any, refunded to the dealer by the seller in respect of any goods purchased from the seller and returned to him within the prescribed period; (33) “turnover of sales” means the aggregate of the amount of sale price received or receivable by a dealer in respect of any sale of goods made during a given period after deducting the amount of sale price, if any, refunded by the dealer to a purchaser, in respect of any goods purchased and returned by the purchaser within the prescribed period; (34) “total turnover” means aggregate of the following transactions effected by a dealer, (a) turnover of sales or purchases of goods within the State whether such sales or purchases of goods are taxable or exempt under this Act; (b) turnover of sales of goods in the course of inter-State trade or commerce; (c) turnover of sales of goods in the course of export of goods out of the territory of India; (d) turnover of sales by a dealer on his own account and also on behalf of his principal; (35) “value of goods” means the value as ascertained from the purchase invoices or bills and includes insurance charges, excise duties, countervailing duties, value added tax, sales tax, transport charges, freight charges and all other charges incidental to the transaction of the goods: Provided that where the purchase invoices or bills are not produced or when the goods are acquired or obtained otherwise than by way of purchase, the value of goods shall be the value at which the goods of like kind or quality are sold or are capable of being sold in open market; (36) 9[“year” means a financial year;]. 2["(37) "Zero rated sale" means a sale of goods by a registered dealer to another registered dealer on which the rate of tax leviable shall be zero but tax credit on the purchase related to that sale is admissible.] CHAPTER II INCIDENCE AND LEVY OF TAX