Tax Period (Section 3, 26 & 36)

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....a dealer, to whom a certificate of registration has been granted for the first time, his tax period, till the end of the year of registration, shall be a quarter and his first tax period shall commence from the date of his liability.] (6) For the purpose of sub-rule (1), the "turnover" of a dealer shall not include turnover from: (a) the sale of capital assets; (b) sales made in the course of winding up the dealer's activities; and (c) sales made as part of the permanent diminution of the dealer's activities. Explanation: For the purposes of this sub-rule, adequate proof of a dealer's turnover shall be a copy of the following documents-: (i) the annual audited accounts of the dealer for the three previous years or the annual acc....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....n opt the tax period of six months or a quarter or one month; or (b) clause (b) of sub-rule (1) applies, can opt the tax period of a quarter or one month; or (c) clause (c) of sub-rule (1) applies, can opt the tax period of one month, and the option so exercised by him during a particular year by furnishing an intimation in accordance with sub-rule (4) of this rule, shall not be changed during that year:" 5. Substituted vide Notification No. F. 3(59)/Fin (T&E)/2005-06/923Kha, Dated 30.112005. Before it was read as:- "(4) Where the tax period applying to a dealer was one month, the dealer shall continue to have tax period of one month unless- (a) the dealer's turnover during each of the last three months was less then forty lakhs rupee....