Levy of luxury tax

The luxury tax payable by a stockist under this Act shall be levied on that part of his turnover of stock of luxuries during any prescribed period which remains after deducting therefrom his such turnover during that period representing—

1. (a) the value of such stock of luxuries as shown to the satisfaction of the Commissioner to have been despatched to places outside Orissa;
2. (b) the value of stock of luxuries of such class or classes or description as may be prescribed.