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...
The Vat department vide Notification dated 15-11-2013, had amended section 13(1) proviso and allowance of Input tax credit was restricted to goods sold or used in manufacturing, processing or packing of taxable goods w.e.f. 01-04-2014. The various trade organizations pitched their voice against this law which is going to deny their rightful claim of Input tax credit and going to keep them glued to their account books in general and stock records in particular.
Reversal of Input tax credit on sale of by-products amounts to double taxation and also exceeds the outer limit of taxability prescribed under the Act Specially in Sheller Trade which is clear cut violation of Article 286 of the Constitution of India.
The system of VAT was introduced in the sales tax law to bring more transparency, efficiency, to remove tax cascading etc. The difficulties which may arise in any system comes to picture only when the system is practically implemented. One of the major difficulties being faced by the dealers is the disallowance of input tax […]
Introduction Of Rule 21 (8) Under The Punjab Vat Rules Inserted Vide Notification Dated 25.01.2014 W.E.F 01.02.2014 Is Ultra Vires As The Same Is Violative Of Article 14, 19(1)(g), 286 Of The Constitution Of India & Section 15 (b) Of The Central Sales Tax Act 1956. That Rule 21 (8) which has been introduced w.e.f. […]
Schedule A and Schedule E have been amended to give effect to single stage taxation system. While Schedule A has its genesis in Section 16, Schedule E bears its roots in Section 8. As per Schedule A , specified commodities have been made tax free at wholesaler or distributor or retailer stage. However, section 16 bears no relation with stages of goods
As per section 39A of Punjab VAT Act, 2005, the Punjab VAT Refund Fund has been constituted and the amount of tax collected as Advance Tax under Section 6(7) shall be credited directly into the said Fund. It has been provided that the Fund shall be maintained and operated by the Department of Excise and […]
Input tax credit is a concession granted by the State Government against the output tax liability on the sale or purchase of goods within the State jurisdiction. To avail such concession one has to fulfill the conditions imposed by the statue subject to which such concession is available. Amendment w.e.f. 01.04.2014: One of the most […]
Advance VAT Levied on 5 more items W.E.F. 7th March, 2014 Under Punjab Vat Act, 2005 Punjab Government has levied advance tax on five new items in addition to the previous list of thirty items w.e.f. 7th March, 2014. The list of the items added are mentioned below: 31. Plastic Fabric and Bags 5.5% 32. Paper […]
Whereas the State Government is satisfied that circumstances exist, which render it necessary to take immediate action in public interest; Now, therefore, in exercise of the powers conferred by sub-section (3) of section 8 of the Punjab Value Added Tax Act, 2005 (Punjab Act No. 8 of 2005)
Punjab Excise and Taxation department vide notification no. S.O 17/P.A.8/2005/ S.8/2014 dated 21.02.2014 has notified additional commodities for single point taxation. This notification is effective from 1st March 2014 and is in addition to notification issued on 13.12.2013 which was effective from 1st January, 2014.Notification No. S.O.117/P.A8/2005/S.8/2013
