Public Notice dated 24.07.2014: -
1. An option in VAT-15 to take Input Tax Credit through Worksheet-6 instead of Worksheet-7 for 1st Quarter of 2014-15.
2. Extending the Due date of filing of VAT-15 return to 20.08.2014.
3. Date of tax payments will remain unchanged.
4. New VAT-15 with above mentioned option will be available from 25th July at Department's website.
Reference to Notification No. S.O.17/P.A8/2014 dated 21st February, 2014
In light of the above notification we are receiving queries from various dealers and lawyers. In response to this, following clarifications are being issued:
Punjab VAT notification dated 21-feb-2014 regarding singe stage taxation is attached hereunder also the download link is present at the bottom.
Excise & Taxation Department of Punjab government has issued the Notification regarding its Rahat scheme for small traders and has also issued the list of Class-I, Class-II and Class-III towns under the scheme. Below are both the notifications.
Govt introduces one-time tax for those with turnover up to Rs 1 cr
Excise and taxation inspectors (ETIs) would not be allowed to check commercial premises of traders in at least 71 towns of Punjab after February 13 as the state excise and taxation department is launching a new scheme under which traders would have an option to pay value added tax (VAT) once a year in proportion to their annual income. In lieu of this tax amount, the government would provide traders cashless treatment up to Rs 50,000, life and accidental insurance worth Rs 2 lakh and Rs 5 lakh insurance in case of damage to property due to fire.
Due date for efiling of VAT returns i.e. VAT-15 under Punjab VAT Act, 2005 has been extended to 5th November, 2013.
Notification regarding withdrawal of Entry Tax
Notification Regarding Implementation of Advance Tax
Public Notice Regarding Advance Tax
There are changes in the Annual processing Fees to be deposited in the month of October. the changes are as per the copy of notification attached below:-
Amid protest by traders, Punjab government today slashed the number of commodities to be covered under its anti-tax evasion measure e-Trip to six. E-Trip (Transportation Information within Punjab) system will now cover only cotton, sarson (mustard), plywood, iron & steel (excluding scrap), yarn and vegetable oil (edible and non-edible). "The e-Trip scheme will not be applicable on all the commodities," Punjab Excise and Taxation Commissioner Anurag Verma said, adding it will be applicable only on six commodities.
The Excise & taxation Department of Punjab has notified the New Punjab VAT and CST challans by a notification 08th April, 2013. The notification containing new Challans can be downloaded from below Link
tax 'N' accounts people
Tarun Kumar Gupta
Life style Post