19. Determination of taxable turnover
(a) The taxable turnover shall be determined after allowing the deduction of the following amounts from the turnover:-
(i) The discount actually allowed in the customary course of business or in accordance with the agreement with the purchaser provided that such discount has been deducted from the price in the sale bill/voucher and the purchaser has paid the price less by that discount.
(ii) Sale price of the goods returned by the purchaser as verified from the account books of the dealer.
(iii) Sale price of goods which are not liable to tax under section 4 or are exempt under section 5 of the Act.
(iv) The amount of sale price of goods sold in the course of inter-State trade or commerce as defined by section 3 of the Central Sales Tax Act, 1956.
(v) The amount of sale price of goods sold in the course of export as defined by section 5 of the Central Sales Tax Act, 1956.
(vi) Tax payable, if included in the turnover.
(aa) Provisions allowing the deductions contained in sub rule (a) will apply mutatis mutandis for determination of taxable turnover in respect of purchases liable to tax under section 4-B of the Act.
(b) In respect of a sale on hire purchase system the amount of hire receivable or the amount actually received, whichever is higher, shall be included in the taxable turnover provided that the amount of hire if included in taxable turnover of one year on accrual basis shall not be again included in the taxable turnover of the year in which it is actually received.
(c) In respect of a sale other than the sale specified in sub-rule (b) full sale price shall be included in the turnover of the year in which the sale is made notwithstanding that the sale price is receivable or is received in instalments and some instalments are not received during the year.
Explanation - Taxable turnover means the aggregate of taxable turnover of all the places of business of a dealer having more than one such place.
(d) If a dealer has not charged the tax on sale of goods separately but included it in the sale price the tax included therein shall be determined on the basis of the following formula.
(e) Subject to the foregoing sub-rules, the taxable turnover in respect of the goods used in a work contract shall be estimated at an amount equal to the cost of such goods as enhanced by a profit margin of 20% provided that the dealer does not maintain correct and complete accounts from which the cost of labour as deductible from the amount payable to the dealer for carrying out the contract under explanation 1 of clause (n) of Section 2 of the Act can be deducted.