(1) The net tax payable by a registered dealer for a return period shall be

(a) the amount arrived at after deducting the input tax under section 11 and special rebate under section 12 from the sum of the output tax, tax on the purchases under sub-section (2) of section 6 and reverse tax under sub-section (7) of section 11 for that return period:

Net tax payable= (Output tax due + Tax on purchase due + Reverse Tax ) - (input tax credit paid + special rebate paid) OR

(b) Presumptive tax under sub-section (5) of section 6 and tax under sub-section (2) of section 6 OR

(c) Compounded Tax under section 8 and where the compounded tax is paid under sub-clause(i) of clause(a) of section 8, tax under sub-section (2) of section 6, wherever applicable.

(2) Where for any return period the input tax and special rebate is more than the output tax, the difference shall be carried forward to the succeeding return period after making adjustments as provided under subsection (6) of section 11.

(3) For the purpose of this rule, input tax for a return period shall be the sum of input tax for that return period and the input tax carried forward from the previous return period or periods.

(4) A dealer paying presumptive tax under sub- section (5) of section 6 or compounded tax under section 8 shall pay tax as provided under rule 24.