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 2011-12.
I have been receiving a lot of calls and emails for last two days after my clarification on the above issue, everyone was asking whether my clarification is supported by any official verdict. Today the same has been confirmed by the Punjab Government, Excise and Taxation Department by a public notice which is produced herebelow. Now it is officially confirmed that declared goods other than Wheat and Paddy will be taxable @ 4.4% after adding the surcharge u/s 8-B of Punjab VAT act 2005.
Do you think CBDT should extend Tax Audit Report and relevant ITR Due Date? Please Comment, Vote, Retweet and Like.— Tax Guru (@taxguru_in) September 18, 2018