The Punjab Textiles and Sugar (Existing Stocks) Purchase Tax and Miscellaneous Provisions Act, 1958
The Punjab Textiles and Sugar (Existing Stocks) Purchase Tax and Miscellaneous Provisions Act, 1958
The Punjab Textiles and Sugar (Existing Stocks) Purchase Tax and Miscellaneous Provisions Act, 1958, was a specific fiscal measure enacted to impose a one-time purchase tax on existing stocks of sugar and textiles held by registered dealers as of December 14, 1957. It required these dealers to declare their inventory and pay a tax based on the purchase value of these goods. The Act provided the administrative framework for assessment, payment, and appeals, while also amending the existing sales tax laws of the time. For the ordinary citizen or student, it serves as a historical example of how state governments utilized retrospective taxation to regulate inventory and generate revenue during legislative transitions.
- 1. Short title, extent and commencement
- 2. Definitions
- 3. Levy of tax on purchases of chargeable goods
- 4. Provided further that the Commissioner may accept from a dealer such lump sum by way of composition of the tax payable under this Act as he may deem fit and permit payment thereof by instalments.
- 5. Provisional payment of tax
- 6. Provided that the assessing authority may, on the application of the dealer and for sufficient cause, permit the payment of the tax in such instalments and within such period as he may fix.
- 7. Payment of tax
- 8. Power to reassess tax and rectify mistakes
- 9. Refund
- 10. Production and inspection of accounts and documents
- 11. Provided that these powers shall not be exerciseable by any officer below the rank of an Excise and Taxation Officer.
- 12. Bar of jurisdiction of Civil Courts
- 13. Offences and penalties
- 14. Appeal
- 15. Provided that such authority may, if satisfied that the dealer is unable to pay the tax assessed, for reasons to be recorded in writing, entertain an appeal without the tax having been paid.
- 16. Authorities empowered to assess and enforce tax and tax appeals, revisions, etc
- 17. Indemnity
- 18. Returns etc. to be confidential
- 19. Power to make rules
- 20. Amendment of East Punjab Act No. 46 of 1948
- 21. Repeal of Punjab Act No. 12 of 1954
- 22. Provided that no person shall be entitled to refund of any fee paid by him in respect of the licence issued under the Act so repealed or compensation in lieu thereof.
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