Think twice before choosing Lump sum payment of tax in Works contracts under PVAT Act

1 comments Sunday, July 10, 2011
If you want to choose lump sum scheme for payment of tax in works contracts without maintaining any books of accounts under Punjab VAT Act, 2005, you should think twice before choosing it.

Proviso to section 8(2-A) of Punjab VAT Act and Rule 15(6) of Punjab VAT Rules deals with the lump sum payment of tax under Punjab VAT in works contracts.

Read On