(1) For the purpose of determining the taxable turnover for levying tax under sub-section (1) of section 4 of the Act, the following amounts shall be deducted from turnover,-

(a) on which no tax is leviable under the Act;

(b) which has been exempted from tax;

(c) the sale price of the goods returned to the dealer by the purchaser within a period of six months from the date of VAT invoice thereof.

(d) The sale price of the goods consigned by the principal to the agent where such sale is covered by Form VAT-35, VAT-36 and VAT-36A.

(2) omitted w.e.f. 14-07-2014

(2A) omitted w.e.f. 14-07-2014.

(3) The computation of purchase price, if any, for levying tax under sub-section (2) of section 4 of the Act, shall be made in accordance with clause (28) of section 2, and the same shall be added in the taxable turnover of the dealer.

(4) The sale price of the goods sold by the commission agent on behalf of his principal registered under the Act, shall be added in the taxable turnover of the principal.

(5) The amount of cess levied by the State Government for specific purposes, shall be deducted for determination of taxable turnover.

(6) Where any trade discount or incentive in terms of quantity of goods in relation to any sale of goods has been allowed by a dealer who has opted for payment of tax under sub-section (7) of section 4 of the Act, the maximum retail price of goods given under any trade discount or incentive in terms of quantity shall also be included in taxable turnover.