TMI BlogAmendment of section 10.X X X X Extracts X X X X X X X X Extracts X X X X ..... For the purposes of second proviso, the value of exempt supply of services provided by way of extending deposits, loans or advances in so far as the consideration is represented by way of interest or discount shall not be taken into account for determining the value of turnover in a State or Union territory. ; (b) in sub-section (2),- (i) in clause (d), the word ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o pay, in lieu of the tax payable by him under sub-section (1) of section 9, an amount of tax calculated at such rate as may be prescribed, but not exceeding three per cent. of the turnover in State or turnover in Union territory, if he is not (a) engaged in making any supply of goods or services which are not leviable to tax under this Act; (b) engaged in makin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (d) in sub-section (3), after the words, brackets and figure under sub-section (1) at both the places where they occur, the words, brackets, figure and letter or sub-section (2A), as the case may be, shall be inserted. (e) in sub-section (4), after the words, brackets and figure of sub-section (1) , the words, brackets, figure and letter or, as the case may be, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ending deposits, loans or advances in so far as the consideration is represented by way of interest or discount. Explanation 2. For the purposes of determining the tax payable by a person under this section, the expression turnover in State or turnover in Union territory shall not include the value of following supplies, namely: (i) supplies from the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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