Section 5(1) in Punjab General Sales Tax Act, 1948
(1)Subject to the provisions of this Act, there shall be levied on the [taxable turnover of a dealer] [Substituted for words 'taxable turnover every year of a dealer' by Punjab Act 28 of 1965 w.e.f. 1.4.1966.] a tax at such rates, not exceeding [eight paise] [Substituted for 'seven paise' by Punjab Act 3 of 1990 dated 19.3.90.] in a rupee as the State Government may by notification direct:Provided that a tax at such rate, exceeding [twelve paise] [Substituted for ten paise by Punjab Act 3 of 1990 dated 19.3.1990.] in a rupee, as may be so notified, may be levied on the sale of [-] [Words 'luxury' omitted vide Punjab Act No. 11 of 1976.] goods as specified in Schedule 'A' appended to this Act from such date as the Government may by notification direct. The State Government after giving by notification not less than [twenty days] [Substituted for 'three months' by Punjab Act No 7 of 1967.] notice of its intention so to do may by like notification add to or delete from this Schedule, and thereupon this Schedule shall be deemed to have been amended accordingly :[Provided further that the rate of tax shall not exceed four paise in a rupee in respect of any declared goods] [Proviso substituted for second and third proviso by Punjab Act 23 of 1975 w.e.f. 17.7.1975. The rate of tax on declared goods raised from 3% to 4%.][Omitted] [Third proviso omitted by Punjab Act 24 of 1993 dated 28.6.1993. Proviso which was inserted by Punjab Act 7 of 1967, provided - 'Provided further that Government may by notification in the Official Gazette declared that in respect of any goods or class of goods the dealer may pay such lumpsum by way of composition of the tax payable under this Act, as the Government may notify from time to time'.][Explanation :- The amount of tax shall be calculated to the nearest rupee by ignoring fifty paise or less and counting more than fifty paise as one rupee.] [Explantion inserted by Punjab Act 9 of 1974.][(1-A) The State Government may by notification direct] [Section 5(1-A) inserted by Punjab Act No. 28 of 1965.] that [in respect of such goods other than declared goods] [Substituted for 'in respect of such goods' by PunjabAct No. 7 of 1967 w.e.f. 16.12.1965.] 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 notification the tax on such goods shall be levied accordingly :Provided that no sale of such goods at a subsequent stage shall be exempted 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:[Provided further that in the case of a dealer whose gross turnover does not exceed ten lac rupees in a year or a sum as may be notified by the State Government from time to time in this behalf, and whose amount of tax is assessed under sub-section (1) of Section 11 of this Act, the certificate referred to in the preceding proviso shall not be required.] [Substituted vide Punjab Act No. 12 of 1998.]Explanation. - For the purpose 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.[(1-B) On and with effect from the 1st day of April, 1973, tax on margarine under sub-section (1) shall be levied at the first stage of sale thereof which stage shall :-(a)in the case of dealer who brings into the State margarine from any place outside the State, be the stage of sale when such dealer sells margarine for the first time within the State;(b)in the case of a dealer who manufactures margarine within the State, be the stage of sale when such dealer sells margarine for the first time in the State; and(c)in the case of any other dealer who has not purchased margarine from a dealer referred to in the preceding clause, be the stage at which such dealer sells margarine for the first time in the State :Provided that no sale of margarine at a subsequent stage shall be exempted 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 and signed by the registered dealer, from whom the margarine was purchased.] [Inserted by Punjab Act 2 of 1978 w.e.f. 31.8.1977.]
