State Govt did not have power to legislate Rule 21(8) of Punjab VAT Rules

The Jalandhar Iron & Steel Merchants Association (Regd.),

Punjab & Haryana High Court in the case of The Jalandhar Iron and Steel Merchants Association(Regd), Jalandhar vs State of  Punjab has held that the State Government did not have power to legislate Rule 21(8) of Punjab VAT Rules, 2005 before 01.04.2014 so as to restrict ITC on stock of iron and steel goods as existing on the date of reduction of tax on such goods.

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Author Bio

Name: AMIT BAJAJ

Qualification: LL.B / Advocate

Company: BAJAJ AND BAJAJ ADVOCATES

Location: JALANDHAR, Punjab, IN

Member Since: 13 May 2019 | Total Posts: 207

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TCS reported as payable in Audit Report cannot be added back to income u/s 43B Tribunal allows adjustment of pre-deposit u/s 62(5) of PVAT Act 2005 One Time Settlement Scheme under Punjab VAT Act & CST Act Capital gains under Income Tax Act 1961 Stay of Disputed Income Tax Demands-Important Points View More Published Posts

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