Turnover - Law Dictionary Search Results
Home Dictionary Name: turnoverTurnover
Turnover, in laws dealing with Sales Tax, 'turnover' includes tax in calculating the total turnover, there is nothing wrong in treating the tax as part of the turnover, because, 'turnover' means the amount of money which is turned over in the business, George Oakes (P) Ltd. v. State of Madras, AIR 1962 SC 1352.Turnover is defined to mean: 'the aggregate amount for which goods are bought or sold or supplied or distributed by a dealer either directly or through another on his own account or on account of others whether for cash or for deferred payment or for other valuable consideration, Joint Commercial Tax Officer v. Young Men's Association (Regd.), AIR 1970 SC 1212 (1215): (1970) 1 SCC 462: (1970) 3 SCR 680.Turnover means an aggregate amount for which goods are either bought by or sold by a dealer, whether for a cash or for deferred payment or other valuable consideration, State of Andhra Pradesh v. H. Abdul Bakhi and Brothers, AIR 1965 SC 531 (532): (1964) 7 SCR 664. [Hyderabad Gener...
Taxable turnover
Taxable turnover, 'taxable turnover' is defined in s. 2(s) of the Rajasthan Sales Tax Act, 1954 to mean that part of the 'turnover' which remains after deducting the aggregate amount of proceeds of certain categories of sales and 'turnover', according to s. 2(t), means 'the aggregate of the amount of sale prices received or receivable by a dealer in respect of the sale or supply of goods...', Hindustan Sugar Mills v. State of Rajasthan, AIR 1978 SC 1496 (1499): (1978) 4 SCC 271: (1979) 1 SCR 276.Means the turnover of all sales or purchases of a dealer during the prescribed period in any year, which remains after deducting thereform,(a) the turnover of sales not subject to tax under this Act,(b) the turnover of goods declared exempt under sub-s. (1) of s. 5 or under a notification under sub-s. (2) of s. 5, and(c) in case of turnover of sales in relation to works contract, the charges towards labour, service and other like charges, and subject to such manner as may be prescribed. [Gujara...
Total turnover
Total turnover, means aggregate of the following transactions effected by a dealer-(a) turnover of sales or purchases of goods within the State whether such sales or purchases of goods are taxable or exempt under this Act,(b) turnover of sales of goods in the course of inter-State trade or commerce;(c) turnover of sales of goods in the course of export of goods out of the territory of India;(d) turnover of sales by a dealer on his own account and also on behalf of his principal. [Gujarat Value Added Tax Act, 2005, s. 2(34)...
turnover order
turnover order see order ...
Annual turnover
Annual turnover, represents the value of goods or services sold or supplied during a period of one year. The amount of money turned over or drawn in a business during a period of one year is another shed of meaning, Secretary, Ministry of Chemicals and Fertilisers, Government of India v. Cipla Ltd., (2003) 7 SCC 1. [Drugs Policy 1994, s. 2]...
Turnover of purchases
Turnover of purchases, in relation to any period, means:(a) in the case of the occupier of a jute-mill, the aggregate of the purchase prices or parts of purchase prices payable by such occupier for the quantities of raw jute purchased by him during such period after deducting the amounts, if any, refunded to him by the seller during such period in respect of any quantity of raw jute returned to the seller within ninety days from the date of its purchase and such other amounts as may be prescribed.(b) in the case of a shipper of jute, the aggregate of the purchase price or parts of purchase price payable by such shipper of jute in respect of the quantities of raw jute purchase by him in West Bengal and dispatched by him during such period to any place outside West Bengal by any means of transit.(c) in case of any dealer liable to pay tax under s. 12 or s. 13, the aggregate of the purchase price or parts of purchase price payable by such dealer in respect of the goods, prescribed under t...
Turnover of sales
Turnover of sales, in relation to any period, means the aggregate of the sale prices or parts of sale-prices received or receivable by a dealer in respect of sales of goods made during such period after deducting therefrom the amounts, if any, refunded by the dealer in respect of any such goods returned or rejected by the purchaser within three months from date of delivery of such goods. [West Bengal Value Added Tax Act, 2003, s. 2(55)]Means the aggregate of the amounts of sale price received and receivable by a dealer in respect of any sale of goods made during a given period after deducting the amount of sale price, if any, refunded by the dealer to purchaser, in respect of any goods purchased and returned by the purchaser within the prescribed period. [Gujarat Value Added Tax Act, 2003, s. 2(33)]Means the aggregate of the amounts of sale price received and receivable by a dealer in respect of any sale of goods made during a given period after deducing the amount of:(a) sale price, i...
Groundnut oil
Groundnut oil, the processing consists in the non-oily content of the raw oil being separated and removed, rendering the oily content of the oil 100 per cent. For this reason refined oil continues to be groundnut oil within the meaning of rules 5(1)(k) and 18(2) of the Madras General Sales Tax (Turnover and Assessment) Rules, 1939 notwith-standing that such oil does not possess the characteristic colour, or taste, odour, etc. of the raw groundnut oil, Tungabhadra Industries Ltd. v. Commercial Tax Officer, AIR 1961 SC 412: (1961) 2 SCR 14. [Madras General Sale Tax (Turnover and Assessment, Rules (1939), R. 18(2), s. (1) (k)]...
Tax payable
Tax payable, means tax payable under this Act on sales or purchase effected by a dealer or casual dealer but does not include tax due as defined in clause (46). [West Bengal Value Added Tax Act, 2003, s. 2(49)]Means the full amount of tax which becomes due when assessed on the basis of the information regarding turnover and taxable turnover furnished or shown in the return, J.K. Synthetices Ltd. v. Commercial Taxes Officer, AIR 1994 SC 2393. (See also Rajasthan Sales Tax Act, 1954, s. 1113)The tax payable is the amount for which a demand notice is issued under s. 156. In determining the tax payable, the tax already paid has to be deducted. Hence, there can be no doubt that the expression 'the amount of the tax, if any, payable by him' referred to in the first part of s. 271(1)(a)(i), refers to the tax payable under a demand notice. Considering the words 'the tax' found in the latter part of that provision. It may be noted that the expression used is not 'tax' but the 'the tax'. The def...
order
order 1 : a state of peace, freedom from unruly behavior, and respect for law and proper authority [maintain law and ] 2 : an established mode or state of procedure [a call to ] 3 a : a mandate from a superior authority see also executive order b : a ruling or command made by a competent administrative authority ;specif : one resulting from administrative adjudication and subject to judicial review and enforcement [an administrative may not be inconsistent with the Constitution "Wells v. State, 654 So. 2d 145 (1995)"] c : an authoritative command issued by the court [violated a court and was jailed for contempt] cease-and-de·sist order [sēs-ənd-di-zist-, -sist-] : an order from a court or quasi-judicial tribunal to stop engaging in a particular activity or practice (as an unfair labor practice) compare injunction, mandamus, stay consent order : an agreement of litigating parties that by consent takes the form of a court order final order : an order of a court...
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