Revision of Processing Fee under Punjab Value Added Tax Act, 2005

TG Team 20 Sep 2013 2,303 Views 0 comment Print Goods and Services Tax | Articles

Punjab Excise & Taxation Department has revised the amount of processing fee leviable under rule 40-A of the Punjab VAT Rules, 2005. The detail of the same is as under :-

“Rule 40-A. Annual processing fee.- Every taxable person, shall pay annual processing fee, as specified in the Table given below, in the month of October every year, and shall attach a receiptlchallan , as the case may be, as a proof of payment of such fee along with the quarterly return, namely:-

Serial No.	Category of Dealer	Amount of Processing fee (in rupees)
1.	Dealers, who have not filed returns during the financial year 2012-13	1500
2.	Dealers, whose gross turnover was nil during previous financial year.	1500
3	Dealers, who have paid no tax and whose gross turnover is up-to-rupees,- (i) .one crore; (ii) one crore to five crore; (iii) five crore to ten crore; and (iv) ten crore and above	1500 2500 3500 5000
4	All other Dealers	800

Beside this the Excise & Taxation Department has also changed the monetory limits for certification of Annual Return by Chartered Accountant from Fifty Lacs to One Crore by making the necessary amendment in Rule 41 as the words ‘Fifty Lacs’ was substituted with ‘One Crore’.

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Authored by

J S BEDI Advocate

Email ID: bediadvocate@yahoo.co.in

Contact Number: 98140-66336