(1) The turnover tax payable by a dealer, who is liable to pay the turnover tax under section 16, shall be levied on that part of his gross turnover of sales during any period which remains after deducting therefrom his turnover of sales during that period as represents—
(a) sales, other than those on which tax is levied under section 17 at a rate of two per centunt or less, of goods referred to in section 14 of the Central Sales Tax Act, 1956;
(b) sales of electrical energy and newspapers;
(c) sales of goods declared tax-free under section 24;
(d) sales referred to in sub-clause (iii) of clause (a) of subsection (3) of section 17 of goods, other than those specified in clause (a), clause (b) and clause (c);
(e) such other sales as may be prescribed.
(2) The turnover tax shall be levied—
(a) on such part of the gross turnover of sales referred to in subsection (1) as represents sales of goods, other than those specified in Part B of Schedule IV, at the rate of- 476 The West Bengal Sales Tax Act, 1994.
XLIX of 1994.]
(Chapter Ill.—Incidence and levy of tax and rate of tax.—Section 23.)
(i) two per centum of such part of the turnover of sales as is specified in sub-section ( I ), if the turnover of sales of the dealer liable to pay such tax exceeds one crore rupees during the year in respect of which or part of which the turnover tax is levied;
(ii) one per Gentian of such part of the turnover of sales as is specified in sub-section (t), if the provisions of sub-clause (i) do not apply:
Provided that the turnover tax payable by a dealer under sub-clause (i) shall not exceed a sum equivalent to the aggregate of one-half of the turnover tax payable by him in accordance with the said sub-clause and ten per centurn of the amount by which his aforesaid gross turnover of sales exceeds one crore rupees;
(b) on such part of the gross turnover of sales referred to in subsection (I) as represents sales of goods specified in Part B of Schedule IV at the rate of two and a half per centum of that part of the gross turnover of sales.