Finance (No. 2) Act, 1966
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Certain appropriations to be treated as sales. |
6.—Where a person who in accordance with section 5 of this Act has purchased taxable goods in circumstances in which wholesale tax is not chargeable, or who in accordance with section 11 of this Act has imported taxable goods in circumstances in which wholesale tax is not chargeable, applies or appropriates any of those goods or any taxable goods made by him or which are the result of a process applied by him, otherwise than— | |
(a) in the case of a manufacturer—as materials or as stock in trade, or | ||
(b) in any other case—as stock in trade, | ||
he shall, for the purposes of this Act, be deemed thereby to have received payment in respect of a sale of the goods so applied or appropriated at the wholesale price current at the time of the application or appropriation. |