S.R.O. 552(I)/96, dated 1st July, 1996

SHORT TITLE, APPLICATION AND COMMENCEMENT, DEFINITIONS, ENROLLMENT OF TURNOVER TAXPAYER, FURNISHING TURNOVER TAX RULES, 1996 CONTENTS 1. Short title, application and commencement. 2. Definitions. 3. Enrolment of turnover taxpayer. 4. Payment of turnover tax. 5. Records to be kept. ------ TURNOVER TAX RULES, 1996 S.R.O. 552(I)/96, dated 1st July, 1996:- In exercise of the powers conferred by the section 50 of the Sales Tax Act, 1990, read with sections 3A and 26A thereof, the Central Board of Revenue is pleased to make the following rules, namely:-- 1. Short title, application and commencement. --(1) These rules may be called Turnover Tax Rules, 1996. (2) They shall come into force on and from the first day of July, 1996. 2. Definitions. --(1) For the purpose of these Rules; Act means the Sales Tax Act, 1990; Annex means an annex appended to these Rules; enrollment application means application for enrollment of turnover taxpayers in the form at Annex-A; enrollment certificate means a certificate of enrollment as at Annex-B; and return means turnover tax return-cum-payment challan as in form at Annex-C. (2) All other terms and expressions used but not defined in these Rules shall have the same meaning as are assigned to them under the Act. 3. Enrollment of turnover taxpayer. -- (1) A person whose taxable turnover does not exceed one million rupees shall make an enrollment application to the Collector having jurisdiction in the area where his business premises are located. (2) The Collector shall having satisfied himself with the requisite information provided in the enrollment application cause the applicant to be enrolled and issue the enrollment certificate accordingly. 2 [4. Furnishing of return and payment of turnover Tax. --(1) A person required to pay turnover tax shall furnish the return to the office of Collector of Sales Tax having jurisdiction alongwith the original treasury challan as a proof of payment of the amount of turnover tax due as indicated in column 04 of the return.] 5. Records to be kept. -- A person required to pay turnover tax under section 3A shall keep the following records, namely,-- (i) Record of purchases indicating description,…