Section 16(6) in The Andaman and Nicobar Islands Value Added Tax Regulation, 2017
(6)In case a person-(a)whose turnover in the year preceding the commencement of this Regulation does not exceed five lakh rupees or such other amount as may be specified by the Government by notification in the Official Gazette; and(b)who has opted to pay tax under this section in terms of sub-section (3) of this section, he shall be required to pay tax on the goods held on the date of the commencement of this Regulation at the rates specified in section 4 on the fair market value of goods where such goods have not borne tax under the Port Blair Municipal Council Octroi Tax Bye-Laws.
