There shall be levied on goods specified in, -

(i) Parts I, II and IV of Schedule II, a tax at the rate mentioned in the corresponding entry in column (3) thereof on the taxable turnover; and

(ii) Part III of the said schedule, a tax at the rate mentioned in the corresponding entry in column (4) thereof on the taxable turnover, and such tax shall be levied on the taxable turnover of a dealer liable to pay tax under this Act.