Tax calculation amendment aligns taxable turnover computation with prescribed rule, replacing prior descriptive formula and taking effect earlier. The notification substitutes the prior descriptive tax formula in the state tax notification with wording directing tax calculation to the rate specified in the Jharkhand Goods and Services Tax Rules, 2017, thereby making the tax computation rule based. The amendment, issued under the Act and on Council recommendation as a modification of S.O. No. 50 State Tax, is declared effective from 1st February, 2019.
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Tax calculation amendment aligns taxable turnover computation with prescribed rule, replacing prior descriptive formula and taking effect earlier.
The notification substitutes the prior descriptive tax formula in the state tax notification with wording directing tax calculation to the rate specified in the Jharkhand Goods and Services Tax Rules, 2017, thereby making the tax computation rule based. The amendment, issued under the Act and on Council recommendation as a modification of S.O. No. 50 State Tax, is declared effective from 1st February, 2019.
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