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Section 17: Levy of presumptive tax on registered retailers

The Meghalaya Value Added Tax Act 2003 (Act No.2 of 2005).pdfState Act of Meghalaya · Act 2 of 2005

All registered retailers whose gross turnover of sales does not exceed rupees five lakhs, subject to such conditions and restrictions as may be prescribed, shall pay in lieu of the tax as specified under section orsection6 a tax at such percentage of the entire taxable turnover of such sales and purchase as the Government may, by order, notify subject to the condition that no input tax credit shall be available to such dealers;

Provided that payment of tax under this section shall not apply to a registered retail dealer who imports goods from outside the State for the purpose of carrying out his business;

Provided further that a registered retail dealer may, by exercising option in the prescribed manner, elect to pay tax as specified under section 5 or section 6 of this Act in lieu of the provisions of this section.

Where this provision sits

ActThe Meghalaya Value Added Tax Act 2003 (Act No.2 of 2005).pdf
Section17
Marginal noteLevy of presumptive tax on registered retailers
JurisdictionState of Meghalaya
StatusIn force as published by the source

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