Section 2(3) in The M.P. Vat Act, 2002

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State of Madhya Pradesh - Subsection

Section 2(3) in The M.P. Vat Act, 2002

(3)the amount collected by way of tax under Section 9; orthe amount arrived at by applying the following formula :-

| rate of tax x aggregate of sale prices100 + rate of tax|

Provided that no deductions on the basis of the above formula shall be made if the amount by way of tax collected by a registered dealer, in accordance with the provisions of this Act, has been otherwise deducted from the aggregate of sale prices.Explanation. - Where the turnover of a dealer is taxable at different rates, the aforesaid formula shall be applied separately in respect of such part of the turnover liable to a different rate of tax under Section 9;]

(y)[ "Tax paid goods" in relation to goods specified in Part III of Schedule II and the goods notified under Section 9-A, on which tax is payable under Section 9 means any such goods which have been purchased by a dealer from a registered dealer inside the State of Madhya Pradesh within the meaning of Section 4 of the Central Sales Tax Act, 1956 (No. 74 of 1956);] [Substituted by M.P. Act No. 9 of 2009.]

(z)"Turnover" in relation to any period means the aggregate of the amount of sale prices received and receivable by a dealer in respect of any sale or supply or distribution of goods made during that period, whether or not the whole or any portion of such turnover is liable to tax but after deducting the amount, if any, refunded by the dealer to a purchaser, in respect of any goods purchased and returned by the purchaser within six months from the date of such sale :

Provided that-

(i)in the case of sale by bonafide agriculturist as defined in clause (e) of sub-section (1) of Section 2 of the Madhya Pradesh Land Revenue Code, 1959 (No. 20 of 1959), of ghee produced by himself; or

(ii)in case of sale by a person of agricultural or horticultural produce grown by himself or grown on any land in which he has an interest whether as owner, usufructuary mortgagee, tenant or otherwise, when such produce is sold in the form in which it was produced, without being subjected to any physical, chemical or other process for being made fit for consumption save mere dehusking, cleaning, grading or sorting, the amount of consideration relating to such sales,

shall be excluded from his turnover;(a-1) "VAT (Value Added Tax)" means tax on sale or purchase of goods payable under this Act;(b-1) "Year" means the twelve months ending on the 31st day of March.Chapter - II Taxing Authorities

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State of Madhya Pradesh - Subsection

Section 2(3) in The M.P. Vat Act, 2002