Amendment status not verified — confirm the current text below against the official source.
Substituted by Act No.28 of 2008. [Act No.5 of 2005] 23 Provided further that in respect of purchase of goods specified in Schedules III and VI, the VAT dealer shall be liable to pay tax at the rates specified for such goods in the respective Schedules.] (5) Every dealer shall pay tax on the sale price of goods specified in Schedule VI at the special rates and at the point of levy specified therein. (6) Every casual trader who sells goods within the State and any dealer covered under Explanation III and IV of clause (10) of section 2 shall pay tax on the sale price of such goods at the rates specified in the respective Schedules. (7) Notwithstanding anything contained in the Act,- (a) every dealer executing works contract shall pay tax on the value of goods at the time of incorporation of such goods in the works executed at the rates applicable to the goods under the Act: Provided that where accounts are not maintained to determine the correct value of goods at the time of incorporation such dealer shall pay tax at the rate 22[specified in Schedule-V] on the total consideration received or receivable subject to such deductions as may be prescribed; 23[(b) Every dealer executing works contract may in lieu of the amount of tax payable by him under clause (a) opt to pay by way of composition 24[at the rate of five percent (5%)] of the total amount received or receivable by himself towards execution of the works contract either by