Section 3 in Jammu and Kashmir Motor Spirit and Diesel Oil (Taxation of Sales) Act, 2005 (1948 A.D.)
3. [ Levy of tax. [Section 3 substituted by Act XVII of 1978, s. 3.]
- Subject to the Provisions of this Act, every dealer shall pay to the Government a tax on the sale of motor spirit and diesel oil at such rate or rates not exceeding [forty percent], advalorem as may be specified by the Government by notification in the Government Gazette :Provided that tax shall be chargeable on the first sale after import of motor spirit and diesel oil into the State :][Provided further that in respect of the sale of motor spirit and diesel oil lying in stock with the retail dealers on the date of enforcement of the Jammu and Kashmir Motor Spirit and Diesel Oil (Taxation of Sales) (Amendment) Act, 1978 (Act XVII of 1978), the tax shall be chargeable from such retail dealers on the sale of such stocks of motor spirit and diesel oil] [Proviso added by Act XVII of 1978, s. 3.] :[Provided further that the first sale in respect of the dealers registered under the name and style of M/s Indian Oil Corporation Ltd., M/s Bharat Petroleum Corporation Ltd., M/s Hindustan Petroleum Corporation Ltd. and M/s Indo Burma Petroleum Co. Ltd., who sell Motor Spirit and Diesel Oil shall be the sale by these dealers to a dealer other than the aforesaid dealers inter se for the first time within the State.] [Proviso added by Act VI of 1989, s. 2.]
