(1) A registered dealer whose turnover in a year does not ordinarily exceed rupees One crore may opt to pay a lump-sum under sub section (1) of Section 11.

(2) A registered dealer opting to pay a lump-sum in lieu of tax by way of composition shall give his option in form 4 to the appropriate Commercial tax officer or any other officer authorised by the commissioner in this behalf within one month of the commencement of year.

(3) The lump-sum shall be payable on the goods specified in Schedule II -other than the goods specified in part III and part-III A of the said schedule appended to the Act. The lump-sum payable by a registered dealer shall be as under.-

(i) 0.5 percent of the turnover of sales of goods purchased; and

(ii) (a) three percent of the turnover of cooked food manufactured;

(b) four percent of the turnover of goods, other than cooked food manufactured.

(4) Such lump-sum shall be paid for every quarter of the year for which the option has been given and a quarterly return in form 5 along with a copy of challan as proof of such payment shall be furnished to the appropriate Commercial tax officer or any other officer authorised by the commissioner in this behalf within thirty days of the expiry of the quarter:

Provided that the lump sum amount pertaining to the quarter ending on 30th June, 2014 shall be paid upto 30th July, 2014 and the return in Form 5 shall be furnished upto 30th September, 2014.

(4-A) Notwithstanding anything to the contrary contained in sub-rule (4), a registered dealer whose payment of lump sum in a year does not ordinarily exceed rupees fifty thousand shall pay lump sum for every quarter of the year for which the option has been given, within thirty days of the expiry of the quarter and furnish an annual return in form 5 along with copy of challans as proof of such payments to the appropriate Commissioner Tax Officer or any other officer authorised by the Commissioner in this behalf within thirty days of the expiry of the year.

(4-A) (a) The return in Form 5 may be furnished in any of the following manners, namely:-

(i) furnishing the return electronically under digital signature;

(ii) transmitting the data in the return electronically without digital signature and thereafter submitting the verification of the return in Form 5-B.

(b) The State Government may, by notification, provide that the return, with or without a hard copy as may be specified in the notification, in respect of the periods starting on or after such date and by such registered dealer or class of registered dealers as may be specified in the said notification, shall be furnished in any of the manners specified in clause (a) through the official web portal of the department (www.mptax.netI www.mptax.gov.in) in accordance with the instructions, given in the web portal.

(5) A registered dealer opting to pay lump-sum under section 11 and required to issue a bill, cash memorandum or invoice under sub-section (1) of section 40, shall, for sale of goods to another registered dealer, issue a bill, cash memorandum or invoice specifically stating that the dealer has opted for composition of tax under section 11. The statement shall be recorded by affixing a rubber stamp which read as follows. -"Goods sold by a dealer opting for composition of tax under section 11" .

(6) Where an option given by a registered dealer under sub-section (1) of section 11 stands revoked under the provisions of sub-section (2) of the said section, such dealer shall furnish returns for the period from the commencement of the year to the date of revocation of such option within one month from the date of revocation and subsequent returns, in accordance with the provisions of section 18. The lump-sum payment, if any, shall be adjusted towards the tax payable according to such returns and all other provisions of the Act shall, mutatis mutandis , apply to such dealer.