Goods and Services Tax : Tax evasion attempt is punishable under Indian Penal Code. Learn how Deepak Kumar v. State of Punjab proved that Indian Penal Code...
Goods and Services Tax : User Manual For Registration of Profession Tax Steps to navigate through Single Window Portal to apply for Registration under Prof...
Goods and Services Tax : With the advent of GST and dawn of old indirect tax regime in the form of VAT, service tax and central excise etc, the State and...
Goods and Services Tax : Punjab State Development Tax Rules, 2018 Background: On 16th April 2018 Governor of Punjab gave assent to new act called THE PUNJA...
Goods and Services Tax : The First step towards the transaction of GST will be the carry forwarding of the Inputs held in stock on the appointed day and it...
Goods and Services Tax : Request to implement One Time Settlement (OTS) in VAT Assessment cases of small taxpayers from Punjab i.e. below annual turnover O...
Goods and Services Tax : Extension of Due date of filing of Punjab VAT Annual return VAT-20 for year 2016-17 from 30th November 2017 to 08th December 2017...
Goods and Services Tax : Advocate Amit Bajaj Section 27 of the Punjab VAT Act, 2005 has been amended to enhance the rate of Works Contract Tax i.e tax t...
Goods and Services Tax : Punjab VAT has notified all Tax Payers, VAT consultants, CA’s and all other stake holders that Department of Excise and Taxation...
Goods and Services Tax : At present, the information regarding goods being brought into and moving out of the state of Punjab (Inter-state transactions) is...
Goods and Services Tax : Explore the Shiva TexFabs Ltd. vs. State of Punjab case. Learn how Punjab & Haryana High Court reduced pre-deposit under VAT Act d...
Goods and Services Tax : Punjab and Haryana High Court held that if a special provision has been made qua a particular subject (here Value Added Tax), the ...
Goods and Services Tax : Rakesh Jewellers Vs State of Punjab (VAT Appellate Tribunal, Punjab) Brief facts relevant for the decision of the present appeal a...
Goods and Services Tax : Sunyana Sales Corporation Vs State of Punjab (Punjab VAT Tribunal) The Hon’ble Punjab VAT Tribunal allows adjustment of pre-...
Income Tax : Keshab Automobiles Vs State of Odisha (Orissa High Court) A comparison of the language used in the amended Section 43 (1) of the O...
Goods and Services Tax : Government of Punjab introduces amendments to the One Time Settlement Scheme for Recovery of Outstanding Dues 2023, enhancing tran...
Corporate Law : (1) This scheme may be called the Punjab One Time Settlement of Outstanding Dues (Second) Scheme, 2021. (2) It extends to the w...
Goods and Services Tax : Outstanding demands or disputed amounts which pertain to regular assessment and its escaped assessment, if any, and are ...
Corporate Law : Here is the summary of the latest amendment made under Punjab State Development Tax (Amendment) Rules, 2021 (PSDT) NOTIFICATION No...
Goods and Services Tax : (1) This scheme may be called the Punjab One Time Settlement of Outstanding Dues, 2021. (2) It extends to the whole of the Stat...
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.
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 the importers of sugar in State of Punjab.
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.
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 section 14 of CST Act 1956.
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 detained on 07-05-2003 and the penalizing officer imposed a penalty on 07.05.2003. It appears that no inquiry was made by penalizing officer before imposition of penalty. The case is remanded to the penalizing officer to afford proper opportunity of being heard to the appellant and pass de-novo orders.”
Every person executing works contracts shall pay tax on the value of goods at the time of incorporation of such goods in the works executed at the rates applicable to the goods under this Act: Provided that where accounts are not maintained to determine the correct value of goods at the time of incorporation , such person shall pay tax at the rate of twelve and half per cent on the total consideration received or receivable, subject to such deductions , as may be prescribed
assessment under section 29(2) and 29(3) of PVAT Act 2005 can be made within three years from the last date of filing of annual statement (which is 20th November in case of taxable person and 20th August in case of Registered person) or the actual date of filing of annual statement whichever is later.
GOVERNMENT OF PUNJAB DEPARTMENT OF EXCISE AND TAXATION (EXCISE AND TAXATION II BRANCH) NOTIFICATION The March 11, 2011 No.S.O. In exercise of the powers conferred by section 4 of the Punjab Tax on Lotteries Act, 2005 (Punjab Act No. 18 of 2005), and all other powers enabling him in this behalf, the Governor of Punjab […]
The Punjab Government has extended the due date for submission of all statutory forms under CST Act (C,E-I, E-II, F forms etc) from 20th November 2010 to 31st March 2011 by an official notification dated 16th February 2011. It is here to be noted that normally the Excise and Taxation Department, Punjab normally asks for to give all statutory forms under CST Act along with the annual statement to be filed on 20th November every year under the PVAT Act 2005.
Normally VAT is leviable on the sales of goods by a dealer but in certain circumstances and on certain goods tax is also levied on the purchases made under Punjab VAT Act 2005. Chapter III of Punjab VAT Act 2005 deals with the purchase tax. The provisions relating to purchase tax under PVAT Act are discussed as follows.
