Section 236G: Advance tax on sales to distributors, dealers and wholesalers

1[236G. Advance tax on sales to distributors, dealers and wholesalers.— (1) Every manufacturer or commercial importer 2[ ] at the time of sale to distributors, dealers and wholesalers, shall collect advance tax at the rate specified in Division XIV of Part IV of the First Schedule, from the aforesaid person to whom such sales have been made. (2) Credit for tax collected under sub-section (1) shall be allowed in computing the tax due by the distributor, dealer or wholesaler on the taxable income for the tax year in which the tax was collected.]

Effective date: 2001-09-13

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