Fabrication of Truck and Bus Body has been included in the schedule B of Punjab VAT Act whereby the said transaction has been made taxable @ 5%(after surcharge it will be 5.5%) under the Punjab VAT Act 2005. The relevant notification is produed herebelow for ready reference of all concerneds:
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(EXCISE AND TAXATION II BRANCH)
Notification
The 15th April 2011
No. S.O. 32/P.A. 8/2005/S.8/2011- 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), and all other powers enabling him in this behalf, the Governor of Punjab is pleased to make the following amendment in Schedule ‘B’ appended to the said Act with immediate effect by dispensing with the condition of previous notice, namely:-
AMENDMENT
In the said Schedule, after serial No. 160 and the entries relating thereto, the following serial number and the entries relating thereto shall be added, namely:-
“161 Truck and Bus Body Fabrication “.
SHIVINDER SINGH BRAR,
Financial Commissioner, Taxation and
Secretary to Government of Punjab,
Department of Excise and Taxation.
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