8. Turnover Tax.-

(1)     Any producer or manufacturer or trader of taxable goods or provider of taxable service, who is not required to be registered under section 15, shall pay Turnover Tax at the rate of 4% of his annual turnover.

(2)     Determination of  maximum amount of turnover  upto  which  Turnover Tax shall be payable,  enlistment of Turnover Taxpayers, assessment of payable Turnover Tax and procedure of  payment, appeal against assessment, offences and penalties, seizure of goods, adjudication, confiscation and levy of fine and appeals related thereto, power of concerned officers, keeping  accounts, collection of short paid or arrear tax, refund of erroneously paid or excess paid tax,  and other related matters shall be governed by Rules.

(3)     The Board may, after consideration of the importance of the public interest and after proper  investigation, by order published in the official Gazette, exempt any goods or service from Turnover Tax, subject to such limits and conditions as may be specified in the Order.

(4)     The Board may, after consideration of the importance of the public interest and after proper investigation, by Order, published in the official Gazette, direct to any specific goods, class of goods or service provider to register under section 15 and to pay value added tax, irrespective of annual turnover.

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