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[Cites 0, Cited by 0] [Section 5] [Entire Act]

State of Madhya Pradesh - Subsection

Section 5(2) in The M.P. Vanijyik Kar Niyam, 1995

(2)The fee for grant of licence in respect of goods specified in Schedule IV shall be as under :
(a) in the case of goods liable to tax at the rate of 2 percent- 2 per cent of the amount of turnover;
(b) in the case of goods liable to tax at the rate of 4 per cent-  
  (i) upto the turnover of rupees one lac: 2 percent of the amount of the turnover
  (ii) turnover exceeding rupees one lac: Rs. 2,000 plus 4 per cent of the amount by which the yearlyturnover exceeds Rs. one lac.
(c) in the case of goods liable to tax at the rate of six percent-  
  (i) upto the turnover of rupees one lac: 3 per cent of the amount of the turnover
  (ii) turnover exceeding rupees one lac: Rs. 3,000 plus 6 per cent of the amount of the turnoverexceeding rupees one lac.
(d) [ [Inserted by Notification No. A-5-6-2000-ST-V (64) dated 23-7-2001.] in case of goods liable to tax at the rate of 8 percent.  
  (i) upto the turnover of Rs. one lac 4 percent of the amount of the turnover.
  (ii) turnover exceeding Rs. one lac Rs. 4,000/- plus 8 percent of the amount of turnover exceedingRs. One lac.]
Provided that the fee for grant of a licence in respect of goods specified in entry 5 of Schedule IV shall be payable on the taxable turnover of such goods :Provided further that when the licence is granted with effect from the date of receipt of the application, the fee payable under sub-rule (2) shall be determined as under :
(i)in respect of a registered dealer who commences his business during the year for which licence is applied for, or in respect of a registered dealer who has no turnover for the period of previous year corresponding to the period for the year for which licence is applied for, on the estimated turnover for a period from the date or receipt of the application till the end of the year in respect of which it is granted;
(ii)in respect of a registered dealer not falling in clause (i) on the turnover of the part of the previous year corresponding to the period for which the licence is granted.