(3)For the purposes of this section "taxable turnover" means the gross turnover during the year as reduced by.(i)The turnover during such year of goods exempted under section 9;(ii)In respect of goods specified in Schedule II, the turnover during such year of goods which is shown, to the satisfaction of the Assessing Authority, to have been subjected to tax in the State;(iii)In respect of goods specified in Schedule III, the turnover during such year of sale to registered dealers of goods specified in the purchasing dealer's certificate of registration as being intended for resale within the State or of containers or other materials for the packing of such goods;(iv)In respect of goods involved in any works-contract specified in Schedule VI-(a)The turnover retaining to declared goods, and(b)So much of the labour and other charges incurred by the dealer after the transfer of the property in the goods involved in the works contract or at the option of the dealer such percentage towards labour and other charges of the gross turnover after deducting therefrom the turnover relating to declared goods as is specified in that Schedule;(v)Such other amount as may be prescribed and(vi)From the resultant balance an amount arrived at by applying the following formula -Rate of tax x Resultant balance as mentioned above
