Download form VAT-20 under Punjab VAT Act, 2005, in excel format

0 comments Wednesday, June 20, 2012
VAT-20 i.e Annual Statement is required to be filed annually as per the provisions of section 26 of Punjab VAT Act, 2005. The last date of filing VAT-20 in Punjab is 20th November every year.

This form is required to filed with due diligence as it is the final statement of the year and any error made in the quarterly or monthly returns filed during the year can be corrected only in this annual statement. Assessment under Punjab VAT Act, 2005 is also being framed on the basis of VAT-20. 
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Interest for delayed payment of tax under Punjab VAT Act, 2005

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 Herebelow is the chart showing simple interest leviable on the amount of tax in case of delayed payment of tax under Punjab VAT Act, 2005 under section 32 and section 27(7).It should be noted that such simple interest is not a penal interest and is payable without any requirement of show cause notice and has to be paid along with the delayed payment of tax.
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Penalties under Punjab VAT Act, 2005

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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.
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Fee payable Under Punjab Value Added Tax Act, 2005

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Herebelow is the chart showing various fee payable under Punjab VAT Act, 2005 alonmg with the relevant sections and rules of Punjab VAT Act and Punjab VAT Rules, 2005.
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Time Limits under Punjab Value Added Tax Act, 2005

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I am sharing herebelow the various time limits under Punjab VAT Act, 2005 for example time for filing returns, applying registration, payment of taxes etc, hopefully it will be usefull for all concerned readers.
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