18. Reduction of receipt for levy of tax.—A registered hotelier may, in respect of any receipt on which luxury tax is payable by him, either,—

(i) exclude the amount, if any, collected by him separately by way of tax from the receipt on which tax is leviable; or

(ii) where the tax is not separately collected, deduct from the receipt as per tariff charged, a sum calculated in accordance with the formula given in the Table hereunder:-

¹[TABLE

The formula shall be as follows:-

Receipt multiplied by	R	where 'R' means the rate of tax.]
	100+R