ASSESSMENTS UNDER PUNJAB VAT ACT 2005

0 comments Sunday, May 30, 2010
Assessment under the Punjab VAT Act 2005 are made u/s 29. The assessment under Punjab VAT Act is made after the filing of the VAT 20 i.e annual return except in the case of Provisional Assessment. The assessment of Tax under section 29 of Punjab VAT Act 2005 can be done by two ways which can be discussed as follows:

Assessment on the basis of return filed by the dealer: Assessment  may  be  framed  on  the  basis  of  the  return or  returns  filed  by  the  taxable  persons u/s 29(1) . Where  the  return  is filed under  Sec.26 the  assessing  officer  under  Rule  43   scrutinizies  the  same and proceed to make assessment  under  Sec. 29(1) of the Act. Section 29(1) of Punjab VAT Act 2005 runs as under:
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