Section 5(1) in Uttaranchal Value Added Tax Act, 2005
(1)The net tax payable by a taxable person for a tax period shall be determined by the formula:Net tax payable = (A+B)-CWhere "A" is Output Tax being the total of the tax payable as per sub- Section (2) below: and"B" is Tax on Purchases for the said tax period under the provisions of sub-section (10) of Section 3: and"C" is Input Tax being the total of the tax paid as per sub-section (3) below and subject to the provisions of Section 6.
