Punjab Government has enhanced rate of tax on iron and steel goods as enumerated in clause-iv of Section 14 of Central Sales Tax Act, 1956 except Non-Cenvat paid lron and Steel Scrap from 2.5% to 3.5%. After adding surcharge of 10% u/s 8-B of Punjab VAT Act 2005 the effective rate is now 3.85%.

Similarly  rate of tax on Plastic granules, plastic powder, master batches, Polyvinyl Chloride, Linear low density Polyethylene (LLDPE) and low density polyethylene (LDPE),High density Polyethylene and Polymers of propylene in primary forms. has been changed to 8.5%. After adding surcharge the effective rate will be 9.35%.

Rate of tax on Aviation Turbine Fuel when sold at the airports in Punjab to scheduled and non scheduled airlines carrying passengers is now 4% and after adding surcharge effective rate will be 4.4%.

These changes are applicable from 11.03.2015

Notification No. S.O. 9/P.A.8/2005/S.8/2015

Dated 11th March, 2015

whereas the State Government is satisfied that circumstances exist, which render it necessary to take immediate action in public interest;

Now, therefore, in exercise of the powers conferred by sub-section (3) of section 8 of the Punjab Value Added Tax Act, 2005, (Punjab Act No. 8 of 2005), and all other powers enabling him in this behalf, the Governor of Punjab is pleased to make the following amendments of Schedules ‘B’ and ‘E’ appended to the said act, with immediate effect by dispensing with the condition of previous notice, namely :-

AMENDMENT

1. In the said Schedule ‘B’ , –

(i) in the ‘list of industrial inputs and packing materials given as per

Serial No.58′, the items given at Serial Nos.35, 37, 161, 162, 163 and 166 and the entries relating thereto shall be omitted; and

(ii) Serial No. 163 and the entries thereto, shall be omitted;

2. In the said Schedule ‘E’, –

(i) for Serial No.3 and the entries relating thereto, the following shall be substituted, namely: –

“3. Plastic granules, plastic powder, master batches, Polyvinyl Chloride, Linear low density Polyethylene (LLDPE) and low density polyethylene (LDPE),High density Polyethylene and Polymers of propylene in primary forms.” 8.5 Percent

(ii) for serial No .21 and entries relating thereto, the following shall be substituted, namely:-

“21. lron and Steel goods as enumerated in clause-iv of Section 14 of Central Sales Tax Act, 1956 except Non-Cenvat paid lron and Steel Scrap'” 3.5 Percent

(iii) after Serial No. 25 and the entries relating thereto, the following serial No. shall be added, namely :-

“26. Aviation Turbine Fuel when sold at the airports in Punjab to scheduled and non scheduled airlines carrying passengers”. 4 Percent

D.P. REDDY,

Financial Commissioner Taxation and .

Secretary to Government of Punjab,

Department of Excise

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(Author – Amit Bajaj Advocate, Bajaj & Bajaj Advocates, 128, Sangam complex, Milap chowk, Jalandhar City (Punjab), Email: amitbajajadvocate@hotmail.com , M +919815243335)

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