Welcome amendment: 75% of VAT Refund under PVAT Act to be allowed on furnishing of Indemnity bond0 comments Sunday, March 27, 2011Section 39 of Punjab VAT Act 2005 deals with refund of tax. Some welcome changes have been made in said section by adding a new sub section 1-A to the said section which provides for provisional allowing of 75% of amount of refund claimed under PVAT Act subject to furnishing of indemnity bond in prescribed format and subject to such terms and conditions as may be prescribed.
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