Taxes payable by a dealer

Taxes payable by a dealer.

Subject to the provisions of this Act and to any rules made thereunder, there shall be paid by every dealer, who is liable to pay tax under this Act, the tax payable or taxes leviable on the turnover of sales or purchases in accordance with the provisions of this Chapter.

Explanation.—For the purposes of this Chapter, the turnover of sales and purchases shall include all sales and purchases made by the dealer on his own account and also on behalf of principals mentioned in his accounts and shall likewise include the price of the goods auctioned by him whether the offer of the intending purchaser is accepted by him or by the principal or a nominee of the principal and also include the turnover in this State of the non-resident dealer, as the case may be.