The tax under sections 14, 15(1) and 19 shall be levied on the taxable turnover of the dealer. In determining the taxable turnover, the amounts specified in the following clauses shall, subject to the conditions specified therein, be deducted from the total turnover of a dealer: -

(a) all amounts for which goods specified in the First Schedule are sold;

(b) turnover of zero rated transactions as contemplated under section 21 of the Act;

(c) all amounts realised by a dealer by the sale of his business as a whole;

(d) all amounts in the course of Import of the goods into the Territory of India;

(e) all amounts for which goods specified in the Second, Third, Fourth, Fifth and Sixth Schedules to the Act are sold or purchased by a dealer

provided that the sale or purchase is not at the point of levy prescribed in the said Schedules.

(f) the turnover of sales or purchases made by a dealer through his agent in respect of which tax has been paid by the agent;

(g) any amount by way of tax realised by the dealer; and

(h) all amount falling under the following three heads, when specified and charged for by the dealer separately, without including them in the price of the goods sold:-

(i) freight;

(ii) cost of labour;

(iii) charges for delivery and other such like services.