Herebelow I am sharing a complete chart showing the penalties under Punjab VAT Act, 2005 for the benefit of all readers. Please note that as per the provisions of section 61 no penalty can be levied under Punjab VAT Act, 2005 without giving a show cause notice in writing.
Offence
|
Penalty
(In addition to tax and interest)
|
Section
|
Failure to Register
|
An Amount equal to Tax
due
|
52, 21
|
Failure to Pay tax when
due
|
A Sum @ 2% per month on
tax
|
53
|
Failure to
deduct/deposit TDS
|
A sum equal to amount
deductible
|
27(6)
|
Failure to furnish
return or annual statement
|
An amount of Rs. 100
per day subject to maximum of Rs 10000
|
54(a)
|
Failure to furnish
proof of payment of tax along with the return or annual statement
|
An amount of Rs. 100
per day subject to maximum of Rs 10000
|
54(b)
|
Failure to rectify any
error or omission in any return or annual statement
|
An amount of Rs. 100
per day subject to maximum of Rs 10000
|
54(c)
|
Failure to comply with
requirements of any notice issued under this Act
|
An amount of Rs. 100
per day subject to maximum of Rs 10000
|
54(d)
|
Unauthorized collection
of tax
|
An amount equal to 1.5
times of the tax so collected
|
55
|
Concealment of any
particulars from any return in order to evade or avoid tax
|
An amount equal to
twice the amount of tax assessed
|
56(a)
|
Furnishing incorrect
particulars
|
56(b)
|
|
Concealment of sale or
purchase transactions from account books
|
56(c)
|
|
Non maintenance of
intelligible accounts which prevents assessment of tax due
|
56(d)
|
|
Claim of ITC, which is
not entitled to
|
56(e)
|
|
Claim of Refund, which
was not due
|
56(f)
|
|
Claim for tax credit,
not actually paid
|
56(g)
|
|
Failure to issue
invoice for any sale transaction
|
Higher of Rs. 2000 or double the amount of tax.
|
57(1), 45
|
Issue of or receipt of
or use of a false invoice, knowingly
|
Higher of Rs. 5000 or double the amount of tax
|
57(2)
|
Use of false
registration number or use of registration of another person
|
An amount equal to tax evaded
|
58
|
Provisional refund, non
compliance
|
A sum equal to 2% per month
|
39(1A)
|
Failure to make payment
of the assessed tax, interest or penalty or any other amount within 30 days
of service of demand notice
|
A sum equal to 2% per month
|
59
|
Failure to comply with
any provisions or Rules or order or direction for which no penalty is
provided
|
An amount not exceeding Rs. 10000 subject to minimum of
Rs. 1000 with additional amount of Rs. 100 per day of non compliance
|
60
|
Documents not
proper/genuine at ICC
|
Equal to 30% of the value of goods
|
51(7)
|
Non submission of
documents at ICC
|
Equal to 50% of the value of goods
|
51(7)
|
Failure to deliver
transit-slip at exit ICC
|
Equal to 50% of the value of goods
|
51(4)
|
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