Section 5(2) in Punjab General Sales Tax Act, 1948
(2)In this Act, the expression 'taxable turnover' means that part of a dealer's gross turnover during that period which remains after deducting therefrom:(a)his turnover during that period on-(i)the sale of goods declared tax free under Section 6;(ii)[sales to a registered dealer of goods other than sales of goods liable to tax at the first stage under sub-section (1-A)] [Substituted for the words 'sales to a registered dealer of goods' by Punjab Act 28 of 1965.], 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 or sale in the course of export of goods out of territory of India, 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, or sale in the course of inter-State trade or commerce, or sale in the course of export of goods out of the territory of India 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 other than those made on commission basis by a commission agent to the registered dealer] [Substituted for 'such sales' by Punjab Act 22 of 1994 w.e.f. 27.9.1994.], a declaration duly filled up and signed by the registered dealer to whom the goods are sold and containing prescribed particulars on a prescribed form obtained from the prescribed authority is furnished by the dealer who sells the goods :[Provided further that in the case of a dealer whose gross turnover does not exceed] [Proviso substituted by Punjab Act 15 of 1993 dated 3.5.1993.] [ten lac rupees] [Substituted for 'five lac rupees' by SO/54/PA.46/48/S.5/94 dated 5.8.1994.] 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 declaration referred to in the preceding proviso shall not be required](iii)[Omitted by Punjab Act 6 of 1952.](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;(v)Sales or purchases of goods falling under section 29;(vi)[] [Clause (vi) substituted by Punjab Act 18 of 1960 w.e.f. 1.4.1960.] 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:Provided that in the case of such a sale to a registered dealer, a declaration, in the prescribed form and duly filled and signed by the registered dealer to whom the goods are sold is furnished by the dealer claiming deduction.(vii)such other sales [or purchases] [Words 'or purchases' inserted by Punjab Act 9 of 1974.] as may be prescribed;(b)the amount of sales tax included in the gross turnover.
