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TMI Blog1990 (8) TMI 386X X X X Extracts X X X X X X X X Extracts X X X X ..... ee, that turnover tax, as provided under section 5(2A) of the KGST Act is not exigible in the instant case. The assessee has come up in revision. 2.. We heard counsel. The assessee returned a total turnover of Rs. 56,15,915.15 and claimed exemption of the entire turnover. The sales from April 1, 1987 to June 31, 1987 in the sum of Rs. 15,95,642.36 was excluded. The assessing authority determined the taxable turnover under turnover tax scheme at Rs. 40,20,272.77. He held that section 5(2A) of the KGST Act was applicable and levied turnover tax in the sum of Rs. 20,101. It was confirmed in appeal. The Appellate Tribunal concurred with the said view of the lower authorities. 3.. Section 5(2A) of the KGST Act is as follows: "5. Levy of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the purchaser has paid only the sum originally charged less discount; (g) all amounts allowed to purchasers in respect of goods returned by them to the dealer when the goods are taxable on sales provided that the goods were returned within a period of three months from the date of delivery of the goods and the accounts show the date on which the goods were returned and the date on which and the amount for which refund was made; and (h) all amounts received from the sellers in respect of goods returned to them by the dealer, when the goods are taxable on the purchase value provided that the goods were returned within a period of three months from the date of delivery of the goods and the accounts show the date on which the goods were ret ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ear. It states that every dealer, whose total turnover in a year exceeds rupees twenty-five lakhs (later modified to Rs. 50 lakhs) shall pay turnover tax at the rate of half per centum on the turnover of goods coming under the First or Fifth Schedule to the Act. It is true that turnover tax can be levied on the turnover, which took place from 1st of July, 1987. But for the purpose of determining the total turnover of the dealer, the turnover of the entire year should be reckoned. In section 5(2A), so introduced in the statute book, the concept of total turnover accruing in the Act was not deviated from. That term takes within its fold the entire turnover for the financial year, which is defined as the year. 5.. In this view, we concur wit ..... X X X X Extracts X X X X X X X X Extracts X X X X
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