Rate of tax

The Punjab General Sales Tax Act, 1948

Tax194826 sections

Read full ActSections

Statutory text

(1) Subject to the provisions of this Act, there shall be levied on the 2[taxable turnover of a dealer] a tax at such rates3[not exceeding] 4[six naye Paise] in a rupee as the 5[State] Government may by notification direct: 6[ Provided that a tax at 7[such rate, not exceeding 8[ten naye Paise] in a rupee, as may be so notified may be levied on the sale of luxury goods as specified in Schedule ‘A’ append ed to this Act from such date as the Government may by notification direct. The State Government after giving by notification not less than 9[twenty days] notice of its inten- tion to do so may by like notification add to or delete from this Schedule, and thereupon this Schedule shall be deem- ed to have been amended accordingly:] 10[ Provided further that the rate of tax shall not exceed two naye paise in a rupee in respect of any declared goods 11[ * * * * ] : 12[ Provided further that with effect from the date of commencement of the Punjab General Sales Tax (Amend- ment and Validation) Ordinance, 1967, the rate of tax shall not exceed three paise in a rupee in respect of any declared goods:] 13[Provided further] that Government may by notification in the Official Gazette declare that in respect of any goods or class of goods the dealer may pay such lump sum by way of composition of the tax payable under this Act, as the Go- vernment may notify from time to time. 1[(1A) The State Government may by notification direct that 2[in respect of such goods other than declared goods], and with effect from such date as may be specified in the notification, the tax under sub-section
(1) shall be levied at the first stage of sale thereof : and on the issue of such noti- fication the tax on such goods shall be levied accordingly: Provided that no sale of such goods at a subsequent stage shall be exempt from tax under this Act unless the dealer effecting the sale at such subsequent stage furnishes to the assessing authority in the prescribed form and manner a certificate duly filled in and signed by the registered dealer, from whom the goods were purchased. Explanation.—For the purposes of this sub-section the first stage of sale in respect of any goods in relation to any class of dealers shall be such as may be specified by the State Government in the notification.]
(2) In this Act the expression “taxable turnover” means that part of a dealer’s gross turnover during any period which remains after deducting therefrom—
- (a) his turnover during that period on—
  - (i) the sale of goods declared tax-free under section 6 ; 3[(ii) 4[sales to a registered dealer of goods other than sales of goods liable to tax at the first stage under sub-section (1A)]; declared by him in a prescribed form as being intended for resale in the State of Punjab or sale in the course of inter-State trade or commerce 5[or sale in the course of export of goods out of the territory of India], 6[or of goods specified in his certificate of registration for use by him in the manufacture in Punjab of any goods, other than goods declared tax- free under section 6, for sale in Punjab], and on sales to a registered dealer of containers or other materials for the packing of such goods : Provided that in case of such sales, a declaration duly filled up and signed by the registered dealer to whom the goods are sold and containing prescri- bed particulars on a ¹[prescribed form obtained from the prescribed authority] is furnished by the dealer who sells the goods : ²[ Provided further that when such goods are used by the dealer to whom these are sold for purposes other than those for which these were sold to him, he shall be liable to pay tax on the purchase thereof at such rate, not exceeding the rate of tax leviable on the sale of such goods, as the State Government may by notification direct in respect of a class of dealers specified in such notification, notwithstanding that such pur- chase is not covered by clause
- (ff) of section 2.]] ³[(iii) * * * * ]
  - (iv) sales to any undertaking supplying electrical energy to the public under a licence or sanction granted or deemed to have been granted under the Indian Electricity Act, 1910, of goods for use by it in the generation or distribution of such energy ; ⁴[(v) sales or purchases of goods falling under section 29 :] ⁵[(vi) the purchase of goods which are sold not later than six months after the close of the year, to a registered dealer, or in the course of inter-state trade or commerce, or in the course of export out of the territory of India :

Study data processing for this section.

PDF: pending for this language.