Section 6(5) in Uttar Pradesh Value Added Tax Act, 2008
(5)Where the turnover of sales, in case of a dealer who has opted to pay composition money under first proviso of sub-section (1) exceeds Rs. fifty lakh, he shall be liable to pay tax at the rate provided under section 4 on and from the day the turnover exceeds Rs. fifty lakh. (w.e.f.01.01.2008)Explanation. - For the purposes of sub-sections (1) and (5) where a dealer carries on business during a part of an assessment year, annual turnover shall be partial amount of fifty lakh rupees which shall be computed on pro rata basis and for this purpose part of a calendar month shall be counted as a full month. (w.e.f.01.01.2008)
