(1) Liability of a registered person shall be calculated at the rate, specified under section 9.
(2) Sale of taxable goods held in stock by a registered person on the appointed day, which were purchased without payment of tax under the repealed Act, shall be liable to tax at the rate, specified for those goods under this Act.
(3) A registered person, whose registration has been continued under section 21, shall furnish in such form and to such authority, as may be notified, a statement of taxable goods under this Act, held in stock on the appointed day, within a period of thirty days from the appointed day.
- 15 - Bar against cottlcton of tax whln not payabtl.
Liabitity of rlgistlrld plrsons.
Ratl of Turnovlr Tax.
Rounding of of tax.
(4) A registered person shall not be entitled to input tax credit for any purchase.
(5) A registered person shall issue only a retail invoice for sale made by him and shall not be eligible to issue a VAT invoice.
(6) A registered person shall not be eligible to hold registration under the Central Sales Tax Act, 1956.