Tribunal allows adjustment of pre-deposit u/s 62(5) of PVAT Act 2005

Sunyana Sales Corporation Vs State of Punjab (Punjab VAT Tribunal)

The Hon’ble Punjab VAT Tribunal allows adjustment of pre-deposit u/s 62(5) of PVAT Act 2005 from refund amount applied of subsequent periods. It has been laid down that despite judgement of Hon’ble Supreme Court in Tecnimont case (which lays down that no waiver in respect of pre deposit can be given by appellate authorities), still statutory adjustments of ITC/refund are still available wrt pre-deposit.

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