Section 3 in The Punjab Textiles and Sugar (Existing Stocks) Purchase Tax and Miscellaneous Provisions Act, 1958
3. Levy of tax on purchases of chargeable goods.
(1)There shall be levied and paid a tax, to be called purchase tax, on purchases of all chargeable goods made by a dealer.(2)The tax shall be levied and paid at the rate of three rupees and thirteen naya paise on every one hundred rupees of the purchase value of the chargeable goods:Provided that in respect of purchases of woollen or silk cloth other than pure silk cloth, the rate of tax shall be six rupees and twenty- five naya paise for very one hundred rupees of the purchase value thereof:Provided further that the Commissioner may accept from a dealer such lumpsum by way of composition of the tax payable under this Act as he may deem fit and permit payment thereof by instalments.
