Amendment status not verified — confirm the current text below against the official source.
Amendment of Section 4. (1) Sub-section (1) of Section 4 of the principal Act shall he substituted by the following sub-section (1) namely —“Subject to the provision of this Act, every dealer whose gross turnover from sales which have taken place either wholly in Nagaland or both in and outside Nagaland during the twelve months immediately preceding the date of such commencement exceeded Rs; 12,000/- shall he liable to pay tax under this Act on all sales which hose taken place in Nagaland on and from date of such commencement.” (2) Sub-section (2) of Section 4 of the principal Act shall he substituted by the following sub—section (2) namely : —“Every dealer to whom sub—section (1) does not apply shall. if his gross turnover calculated from the commencement of any year exceeds the taxable quantum, at any time within such year, be liable to pay tax under this Act, on the expiry of two calendar onths from the date On which such gross turnover first exceeds the taxable quantum, on sales effected after such expiry.” (3) Sub-section (6) of Section 4 of the principal Act shall be substituted by the following sub-section (6) namely : —“Every dealer whose liability to pay tax under the provision of subsection (4), shall, if his gross turnover calculated from the commencement of any year again exceeds the taxable quantum at any time within such year, be liable to pay such tax on the expiry of two calendar months from the dates on which such gross turnover again first exceeds the taxable quantum on all sales effected after such expiry.” (4) After sub-section (7) of Section 4 of the principal Act the following sub-section shall be inserted, namely —“(8)In this Act the expression ‘taxable quantum’ means — (a) In relation to any dealer who brings from outside the State any goods inside Nagaland for sale or’ manufacture/processes/produces any goods for sales 5,000/- Rupees; or (b) in relation to any other dealer, 20,000/-Rupees.”