Net Turnover

The net turnover shall be determined by deducting from a dealer’s gross turnover during any given period – (1) his turnover during that period on – (a) the sale of goods exempted under sections 7 and 8; (aa) goods taxed at the rate of seven paise in the rupee. (b) sale of a registered dealer of – (i) goods specified in the purchasing dealer’s certificate of registration as being intended by him for – (a) resale in the State, or (b) use in the execution of any contract, (ii) containers and other materials for the packing of such goods; Provided that the goods which are purchased free of tax and used by a dealer for purposes other than those specified in his certificate of registration, the price of such goods so utilized shall be included in his net turnover; and (c) such other sales as may be prescribed; (2) the amount of any debt proved to have been bad and written off on which tax has been paid; and (3) the per centum as against each items of the balance remaining after making the deductions admissible under clauses (1) and (2) in case of goods specified below – (a) goods taxed at the rate of ten paise in the rupee: 9.09 per centum (b) goods taxed at the rate of five paise in the rupee: 4.76 per centum (c) goods taxed at the rate of three paise in the rupee: 2.91 per centum (d) goods taxed at the rate of one paise in the rupee: 0.99 per centum