Amendment of section 6 of Punjab Act 8 of 2005.

In the Punjab Value Added Tax, 2005 (hereinafter referred to as the principal Act), in section 6, after sub-section (6), the following sub-sections shall be added, namely:- "(7) Notwithstanding anything contained in sub-section (1) to sub-section(6), the State Government shall charge the tax in advance on the import of goods to be notified in such manner, as may be prescribed, and at such rates, as may be notified, but not exceeding the rates applicable on such goods under the Act: Provided that such goods are meant for sale or use in manufacturing or processing of any goods for sale; Provided further that such tax collected in advance, shall be counted towards final liability of the taxable person at the end of each tax period. (8) The tax collected under the Punjab Tax on Entry of Goods into Local Areas Act, 2000 (Punjab No.9 of 2000), shall be deemed to have been collected under the provisions of sub-section (7)."