Definition under Gujarat Value Added Tax

Meaning of “taxable goods” in Gujarat VAT:
“taxable goods” means goods other than those on the sales or purchase of which no tax is payable under section 5;

Meaning of “taxable turnover” in Gujarat VAT:
“taxable turnover” means the turnover of all sales or purchases of a dealer during the prescribed period in any year, which remains after deducting therefrom,-
(a) the turnover of sales not subject to tax under this Act;
(b) the turnover of goods declared exempt under sub-section (1) of section 5 or under a notification under sub-section (2) of section 5, and
(c) in case of turnover of sales in relation to works contract, the charges towards labour, service and other like charges, and subject to such conditions as may be prescribed:

Provided that in the cases where the amount of charges towards labour, service and other like charges in such contract are not ascertainable from the terms and conditions of the contract, the
amount of such charges shall be calculated in such manner as may be prescribed;

“Tribunal” in Gujarat VAT:
“Tribunal” means the tribunal constituted under section 19;

Meaning of “turnover of purchases” in Gujarat VAT:
“turnover of purchases” means the aggregate of the amounts of purchase price paid or payable by a dealer in respect of any purchase of goods made by him during a given period after deducting the
amount of purchase price, if any, refunded to the dealer by the seller in respect of any goods purchased from the seller and returned to him within the prescribed period;

Meaning of “total turnover” in Gujarat VAT:

“total turnover” means aggregate of the following transactions effected by a dealer:

(a)turnover of sales or purchases of goods within the State whether such sales or purchases of goods are taxable or exempt under this Act;
(b) turnover of sales of goods in the course of inter-State trade or commerce;
(c) turnover of sales of goods in the course of export of goods out of the territory of India;
(d) turnover of sales by a dealer on his own account and also on behalf of is principal.

 

Meaning of “turnover of sales” in Gujarat VAT:

“turnover of sales” means the aggregate of the amount of sale price received or receivable by a dealer in respect of any sale of goods made during a given period after deducting the amount of sale price, if any, refunded by the dealer to a purchaser, in respect of any goods purchased and returned by the purchaser within the prescribed period;

Meaning of “value of goods” in Gujarat VAT:

“value of goods” means the value as ascertained from the purchase invoices or bills and includes insurance charges, excise duties, countervailing duties, value added tax, sales tax, transport charges, freight charges and all other charges incidental to the transaction of the goods:

Provided that where the purchase invoices or bills are not produced or when the goods are acquired or obtained otherwise than by way of purchase, the value of goods shall be the value at which the
goods of like kind or quality are sold or are capable of being sold in open market;

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