Download new VAT Return Forms efiling excel utility software under Punjab VAT Act, 20052 comments Tuesday, June 28, 2011Punjab Government Excise and Taxation Department has finaly released excel based e-filing software utility for e-filing of VAT Return Forms. It is to be noted that VAT 23 and VAT 24 return forms which relates to details of sales and purchase within the state, were changed recently. New VAT 23 and 24 return forms contains information related to the details of commodity vise sales and purchase. List of commodities which have to be mentioned in the return forms VAT 23 and 24, has also been provided.
Point of taxation rules amended to allow consulting engineers to pay service tax on receipt basis0 commentsThe Point of Taxation rules, 2011 has been amended expanding the scope of services which are allowed to pay service tax on reciept basis, to the consulting engineers services. In the rule 7(c) of the said rules clause (g) has also been added which relates to the "taxable services provided or to be provided to any person, by a consulting engineer in relation to advice, consultancy or technical assistance in any manner in one or more disciplines of engineering including the discipline of computer hardware engineering." Corporates and banks mandated to issue Form 16A downloaded from TIN central system0 comments GOVERNMENT OF INDIA INCOME TAX DEPARTMENT, MINISTRY OF FINANCE Form 16A – Deductee – Taxpayer It is mandatory* for corporates and banks to issue TDS certificate in Form 16A as generated from Tax Information Network of Income Tax Deptt. Please Insist on Form 16A (quarterly TDS certificate) that has been downloaded from TIN Central System only. Illustration regarding payment of surcharge in challan form VAT-2B.0 commentsIn view of notification dated 20-6-2011, calculation of amount for Challan-2, 2A and 2B is as follows :- Suppose sale is Rs. 1 lakh Tax @ 5% = 5000 additional tax @ 10% of tax = Rs. 500 Punjab Govt decided not to levy VAT on increased prices of Diesel and LPG-A minor relief0 commentsThe Punjab government today decided to provide much needed relief to the people of the state by not charging Value Added Tax (VAT) on the recently increased amount of diesel and LPG.
With the exemption of VAT on the recently increased amount, diesel would become cheaper by approximately 25 paise per litre and LPG by Rs.2.50 per cylinder. To offset the price hike, the state government had given these concessions from its own resources benefiting the farmers, transporters and general consumers. With these concessions, the state government would lose about Rs 75 crore of revenue per annum.
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