(1) The tax payable by a dealer shall be calculated according to the following formula:

T- A -B

Where-

T means the tax payable by the dealer,

A means the output tax under this Act, and

B means the total amount of input tax credit allowable to the dealer under section 16 or section 17:

Provided that the tax payable by a dealer to whom the provisions of clause (cc) of sub-section (1) of Section 35 apply, shall be calculated at the rate of ten per centum of the taxable turnover