VAT return forms changed in Punjab, condition of availability of ITC upto 4th stage also deleted

VAT 23 AND VAT 24 Return Forms under Punjab VAT Act 2005 have been amended vide notification  dated 14-03-2011. By this notification the condition of   allowing  ITC on purchase of goods upto 4th stage of purchase from manufacturer or importer has also been done away with. The relevant provisions relating to it i.e Rule 21(7) and clause (m) of sub rule (4) of  Rule 54 which were added last year vide notification dated 17-03-2010, have been deleted.

In the new VAT 23 and VAT 24 name of the commodity sold or purchased and the rate at which they are taxable will also have to be mentioned.  Items of General nature like karyana goods or electrical goods or electronic goods etc, can be filed under one Head of the commodity, but in case of  Iron and Steel specific name of the commodity like Scrap, ingot etc will have to be mentioned under the head of the commodity.

The new amended forms however have been made required to be filed online from the first quartor of year 2011-12 so as to facilitate dealers in carrying out the necessary changes in their softwares for efiling. The relevant notification can be downloaded at the following link:

The relevant public notice is also being produced herebelow for ready refernce of all concerneds:


                              GOVT OF PUNJAB
          Government of Punjab has amended the statutory forms VAT 23 and VAT 24 on 14-03-2011 which is to be appended alongwith their returns that are to be filed by all the taxable persons while furnishing quarterly returns in VAT 15 form. The amended forms have been loaded on the Department’s website for the information of dealers. 
                     However, to facilitate dealers in carrying out necessary changes/alterations in the software being used by them, it has been decided that submission/filing of these amended forms shall be mandatory only from the first quarter of the financial year 2011-12, i.e. the returns to be filed on or before 30th July.
For more details visit the website WWW.PEXTAX.COM


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