4 When turnover arises in a tax period
For the purposes of sub-section (4) of section 12, the amount of turnover or turnover of purchases arising in the tax period in the case of a sale or purchase occurring
(a) by means of an installment sale or hire purchase of goods made in the tax period, is the total amount of the sale price that will be due and payable under the agreement, including the amount of any option fee paid or that may be payable;
(b) by the transfer of a right to use goods, not being a hire purchase agreement or installment sale agreement, is the proportion of the sale price that is due and payable during the relevant tax period;
(c) by means of transfer of property in goods (whether as goods or in some other form) under a works contract executed or under execution in the tax period, is the consideration received or receivable by the dealer for such transfer of property in goods (whether as goods or in some other form) during the relevant tax period.
4A Determination of taxable turnover of sales of residential hotels charging a composite sum for lodging and boarding
While determining the turnover of sales of goods, specified in sub-clause (vii) of clause (zc) of section 2, of the residential hotels providing lodging and boarding and charging a composite sum, which is inclusive of breakfast or lunch or dinner or, as the case may be, a combination of all or any of the above, the taxable turnover of sales in respect of any period shall be computed in the following manner, namely:-
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(a)
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Where the composite charges include the charges for breakfast.
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ten per cent of the composite charges.
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(b)
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Where the composite charges include the charges for lunch.
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Ten per cent of the composite charges.
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(c)
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Where the composite charges include the charges for dinner.
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Fifteen per cent of the composite charges.
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(d)
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Where the composite charges include the charges for breakfast and lunch
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Twenty per cent of the composite charges.
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(e)
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Where the composite charges include the charges for breakfast and dinner.
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Twenty five per cent of the composite charges.
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(f)
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Where the composite charges include the charges for lunch and dinner.
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Twenty Five per cent of the composite charges.
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(g)
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Where the composite charges include the charges for breakfast, lunch and dinner.
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Thirty five per cent of the composite charges.
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PROVIDED that if the claimant dealer has in his possession sufficient documentary evidence, which conclusively proves that the component of the taxable turnover of sales in the composite sum is less than the percentage given above, the taxable turnover shall be reduced from the above percentage to the extent of actual sum of turnover of sales. |