63. Imposition and collection of turnover tax.—

(1) Every person enlisted or required to be enlisted shall pay turnover tax at the rate of 3 (three) percent on the turnover of his economic activities:

Provided that the amount of the advance tax paid by such person shall be adjusted against such turnover tax.

(2) The turnover tax payable in a tax period by any enlisted person shall be paid before filing the return for such period.

(3) Manners in respect of assessment and collection of the payable turnover tax, of keeping accounts, of the refund of turnover tax, of adjudication and of other auxiliary matters relating thereto shall be determined by rules.