Amendment status not verified — confirm the current text below against the official source.
Payment cif tax at comfJounded rates.-( I) Notw1thstandmg any- thing contained m sub-sectiOn (I) of sectiOn 5,- ( z) every dealer (other than a dealer in coo ked food including coffee, tea and hke articles served 111 a hotel, restaurant or any other place) whose total turnover in a year is not less than ten thousand v-- 46 rupees but not more than twenty-five thousand rupees may, at his option m~tead of paymg the tax m accordance with the provisions of that aub- sectiOn, pay tax at the followmg rates :- Rate of tax (a) Where the total turnover is not less One per cent on than ten thousand rupees but is less the taxable than fifteen thousand rupees turnover. (b) Where the total turnover is not less One and a half than fifteen thousand rupees but IS per cent on not more than t111 enty-five thousand the taxable rupees turnover. ( 11) every dealer m cooked food includmg coffee, tea and like articles served in a hotel, restaurant, or any other place, whose total turnover in respect of such food is not less than twenty thousand rupees but IS not mme than fifty thousand rupees, may, at his option, instead of paymg the tax m accordance with the provisions of that sub-section in respect of the turnover 1 elatmg to such food, pay tax at the following rates:- (a) Where the total turnover is not less than twenty thousand rupees but is less than twenty-five Rs. thousand rupees 360 (b) Wher<· the total turnover is not less than twenty- five thousand rupees but is less than thirty thousand rupees 480 (c) Where the total turnover is not less than thirty thousand rupees but is less than forty thousand ru~ ~ (d) Where the total turnover is not less than forty thousand rupees but is not more than fifty thousand rupees 720 (2) Any dealer whose estimated total turnover for a year is within the hmlts specified m clause ( z) or clause ( u) of sub-section ( l) may apply to the assessmg authonty to be permitted to pay the tax under this section and on bemg so permitted he shall pay the tax due m advance durmg the year m monthly or other prescribed instalments and for that purpose ~hall submit such returns and in such manner as may be pt escribed. The apphcat10n shall be submitted to the assessing authonty withm such time and m such manner as may be prescnbed: Provided that the asse~sing authority may, for sufficient reasons, condone the delay 111 case of late apphcat10n. (3) It shall be open to the assessing authority to reject any such apphcat10n for permiSSIOn for good and sufficient reasons to be recorded in writmg after givmg the dealer a reasonable opportunity of bemg heard. ( 4) Notwithstanding anythmg contained m clau~e (i) of sub section(!), 1f under any of the other provisiOns of this Act the sale or pU! chase of any goods by a dealer is ~ubject to tax only at a lower rate, the tax payable under the sa1d sub-section on his turnover, in so far as I I I ~~~J - .-1 I I I I I I I 47 the turnover or any part thereof relates to the sale or purchase of such goods, shall be calculated only at such lower rates. (5) Notwithstanding anything contamed in clause (z) of sub- section ( 1 ),- (i) a dealer whose total turnover in a year relates only to goods spectfied in the First or Second Schedule or a ca<;ual trader or agent--of a non-resident dealer shall not be entttled to exerctse the option under the said clause ; and ( u) a dealer whose turnover relates to the goods specified in the First or Second Schedule and also to goods other than those speCified in the satd Schedules shall be entttled to exerctse the optiOn under clause ( z) of sub-section (I) only m respect of the turnover relating to the goods other than those spectfied in the Ftrst or Second Schedule, and m respect of the turnover relating to the goods spectfied m the Ftrst or Second Schedule, he shall be lia 1)le to pay the tax under sectiOn 5. (6) The tax paid under sub-section (2) shall be subject to such adjustments as may be preset ibed on the completion of the final assess- ment in the manner prescribed.