Input Tax Credit on goods purchased under the PVAT Act is admissible only upto the fourth stage of its Purchase

0 comments Monday, March 22, 2010
The Punjab VAT Rules have been ammended to provide for that the input tax credit on purchase of goods from manufacturer or importer will be available to a dealer only upto the fourth stage of its purchase. The dealers will also have to mention on the bills that on which stage he is selling the goods. VAT form 23 and 24 has also been ammended to this effect.

The relevent notification is reproduced herebelow for ready reference:
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