Amendment status not verified — confirm the current text below against the official source.
In this Act, unless there is anything repugnant in the subject or context- (a) Act means the Meghalaya Tax (On Luxuries) Act, 2004, (b) Licence Stockist means a stockist to whom a licence has been granted under sub-section (4) of Section 6; (c) Luxuries means the commodities, specified in the Schedule, for enjoyment over and above the necessary of life; (d) Notification means notification published in the Official Gazette; (e) Prescribed means prescribed by Rules made under this Act; (f) Prescribed Authority means the Commissioner of Taxes appointed under sub-section (1) of Section 8 of the Meghalaya Sales Tax Act (Assam Act XVII of 1947 as adapted by Meghalaya); (g) Schedule means the Schedule appended to this Act; (h) State Government means the Government of the State of Meghalaya; (i) Stock of luxuries means the quantity of luxuries received by a stockist; (j) Stockist means a person who has in customary course of business, in his possession of, or control over, a stock of luxuries, whether manufactured, made or possessed by him in Meghalaya or brought by him into Meghalaya either on his own account or on account of others, from any place outside Meghalaya; (k) Tax means the tax payable under this Act; (l) Turnover of stock of luxuries in relation to a stockist in respect of any period as prescribed or part thereof, means the aggregate of the value of stock of luxuries; (m)Value of Stock of Luxuries means i) In respect of any Stockist a manufacturer of any of the luxuries, the value of such luxuries calculated at the ex-factory price at the time of receipt of entry thereof in his stock and the amount of excise duty and of transport and insurance charges if any paid or payable by him; ii) In respect of any stockist being an important of any of the luxuries, the value of such luxuries calculated at the price thereof as per consignors bill, invoice or consignment note or other document of like nature and shall include- (ia) excise duty and central sales tax, if any, paid or payable on such luxuries by the manufacture or importer thereof as the case may be; and (ib) transport charges and insurance charges if any for carrying such luxuries to any premises, godown, warehouse or any other place for delivery to a wholesaler, dealer, retailer, distributor or any other person, and (n) Year means the year commencing on the first day of April and ending on the 31st day of March.