Definitions

In this Act, unless the context otherwise requires,-

1. (a) 'chargeable goods' means the stocks (not being stocks purchased outside the State of Punjab [as it existed before the 1st November, 1966] or in the course of import into the territory of India) held by a dealer immediately before the 14th December, 1957, of-

1. (1) Sugar ; or
2. (2) any variety of cotton, woollen or silken textiles, including rayon, artificial silk or nylon, whether manufactured by handloom, powerloom or otherwise, but not including-
   • (i) cloth woven on handlooms out of handspun yarn when sold by persons dealing exclusively in such cloth, and
   • (ii) pure silk cloth ;
   • (b) 'dealer' means a person who holds chargeable goods and was registered, immediately before the 14th December, 1957, as a dealer under the East Punjab General Sales Tax Act, 1948 ;
   • (c) 'purchase' means a transaction made before the 14th December, 1957, and involving acquisition of the chargeable goods by the dealer from another person, in the course of trade or business, for cash or for deferred payment (including payment in instalments) or other valuable consideration, but does not include any acquisition under a mortgage, hypothecation, charge, or pledge ;
   • (d) 'purchase value' means the total amount set out in the bill or invoice in respect of the purchase of chargeable goods (or if there is no such bill or invoice, the total amount charged by the seller as the consideration for the sale of chargeable goods, whether such consideration be cash or deferred payment or any other thing or value), including any sums charged by the seller, whatever be the description, name or subject thereof;
   • (e) all other words and expressions used, but not defined in this Act, shall have the meaning assigned to them under the East Punjab General Sales Tax Act, 1948.