Amendment status not verified — confirm the current text below against the official source.
No. 01 02 03 04 05 06 07 Illustration: - A dealer selling five hundred tickets shall be liable to pay twenty percenl of sale price of the five hundred tickets sold, as sales tax. (3) Compounded rate of tax on sale of lottery tickets: - (a) Any dealer of lottery tickets registered under this Act and liable to pay tax on sales made in the State of Sikkim. may, at his option, pay the tax in lieu of tax payable under sub-section (2) of section SA at such compounded rate as prescribed in the Schedule appended herewith. (b) The tax payable at a compounded rate prescribed in the Schedule referred to in clause (a) of sub-section (3) shan be paid by the dealer to the Government in the manner as may be prescribed. (c) Any dealer who intends to opt for payment under clause (a) of sub-section (3) shall make an application for permission to the Commissioner in such manner as may be prescribed. (d) Alter verification as may be deemed necessary, the Commissioner, if satisfied, may grant, permission to the applicanl who applies for permission under clause (c) of sub-section (3) of section SA. SCHEDULE Type of draw on the basis of price of ticket. Draw for tickets having a price upto Re.1/- Draw for tickets having a price above Re.1/, and upto Rs.2/- Draw lor tickets having a price above Rs.2/- and uplo Rs.5/- Draw for tickets having a price above Rs.5/- and upto Rs. 1 01- Draw for tickets having a price above RS.l 01- and uplo Rs.20/- Draw for tickets having a price above RS.201- but less tilan RS.50/- Draw for tickets having a price of RS.50/- and above Compounded rate per draw. Rs.S,OOO/- RS.10,0001- RS.15,0001- RS.20,000/- RS.25,000/- Rs.30,OOOI- Rs.50,000/- (4) (a) The dealer of lottery tickets liable to pay tax under this section shall furnish statements of each draw within seven clays from the date of draw in the form and manner as may be prescribed. (b) Notwilhstanding anything contained in section 11, such dealer shall furnish quarterly returns within thirty days Irom the last day of the end of each quarter along with Ihe proof of payment of tax, in such form and manner as may be prescribed." 2 Insertion of new item in Schedule II