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Powers of Excise and Taxation Inspectors enhanced till 31st December 2011 to make it almost at par with ETOs in Punjab

  18 May 2011   0 comment
The powers of Excise and Taxation inspectors in Punjab have been enhanced till 31st December 2011. The Excise and Taxation Inspectors have been appointed as designated officers u/s 11,13,14,26,27,28,29,30,31,32, 36, 38, 39, 40,41,45, 46,47, 48, 49, 52,53,54,55,56, 57, 58,59, 60, 66,76,77 and 83 till December 2011. ...

Whether any penalty or interest may be levied for non submission of requisite C forms?

  10 May 2011   5 comments
As we know C forms are required to be submitted by a seller with the sales tax authorities after obtaining the same from the purchaser of goods if the sale is an interstate sales and CST has been charged at concessional rate of 2% as per the requirement of section 8(4) of CST Act 1956. Sometimes a dealer if has made an interstate sales at...

Grounds on which Entry Tax stayed in Punjab by HC – Analysis of the Judgment in Bhushan Steel case

  04 May 2011   0 comment
Punjab & Haryana High Court in Bhushan Power & Steel Limited v State of Punjab & others has granted interim stay to the petitioners on the levy of entry tax u/s 3-A of Punjab Tax on Entry of Goods into Local areas Act 2000(hereinafter called as the Act), by considering it to be as ultra-vires of the State Government’s power to levy tax ...

PVAT – Circular on Deferment from payment of Entry Tax in Punjab

  02 May 2011   0 comment
As we know the Hon’ble Punjab & Haryana High Court has already stayed the levy of entry tax in Punjab in the case of M/s Bhushan Steel v State of Punjab case on 28-03-2011 and also in other similar writ petitions challenging the levy of entry tax in Punjab on 08-04-2011. But the interim stay were applicable only to the persons who have ...

Punjab Vat- Govt confirms Surcharge on Declared goods other than Wheat and Paddy

  21 Apr 2011   0 comment
I had given a clarification two days back in an article titled 'PVAT Act 2005 – Declared Goods except wheat and paddy will be taxable @ 4.4% w.e.f 08/04/2011' that surchage is also applicable on declared goods other than Paddy and wheat, since the ceiling rate of tax was enhanced from 4% to 5% by the Central govt in the Budget of 2011-1...

Punjab Govt withdraws Entry Tax on sugar

  20 Apr 2011   0 comment
Although there has been a news in a leading Hindi Newspaper that in an ongoing case pending in P&H HC namely Bhushan Steel v. State of Punjab, the Hon'ble High Court has stayed the operation of entry tax in Punjab, but the collection of entry tax is still going on in Punjab. This withdrawal of entry tax on sugar would be a relief for t...

PVAT Act 2005 – Declared Goods except wheat and paddy will be taxable @ 4.4% w.e.f. 08/04/2011

  19 Apr 2011   0 comment
Ceiling rate on declared goods have been enhanced from 4% to 5% by Central Govt in the Budget of 2011-12. Which follows that rate of tax on declared goods cannot exceed 5%. Rate of tax on paddy and wheat has been enhanced by the Punjab Govt from 4% to 5% by including these goods in schedule B of PVAT Act 2005....

Punjab VAT Act – Wheat and Paddy made taxable @ 5%

  18 Apr 2011   0 comment
Wheat and Paddy which are declared goods under CST Act 1956, have been added to schedule B of Punjab VAT Act 2005. The goods contained in schedule B of PVAT act 2005 are taxable @ 5%. An additional surcharge @ 10% is also applicable. But such surcharge will not be applicable on wheat and paddy since these goods are declared goods as per...

Reduction of Octroi rate on Gems and Jewellery items from 2% to 0.01 in Mumbai

  17 Apr 2011   0 comment
With a view to provide significant relief to diamond merchants, the Municipal Corporation of Greater Mumbai (‘MCGM’) which is the municipal authority governing the jurisdiction of Mumbai, has come out with a circular (Circular No. AC/8/OSSC dated 31 March 2011) to reduce the rate of octroi on Gems and Jewellery items from 2% to 0.01% ...

Remand of penalty orders in appeal whether justified?

  09 Apr 2011   1 comment
in a recent case namely Snoline/Snowline Air Conditioner Vs State of Punjab decided on 17-12-2010 by PVAT Tribunal(2011) 16 STM 332 where the penalty was imposed u/s 14-B(6)(i) of Punjab General Sales Tax Act 1948 and the case was remanded for denovo orders to the designated officer on the ground that “As per records, the goods were det...

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