VAT on Sugar, amended rate of tax on cell phones applicable w.e.f 25-07-2012 in Punjab

0 comments Wednesday, July 25, 2012
Few days back there was a news that VAT on sugar has been imposed by Punjab Government @ 5%, but no notification publicly was available confirming the same. Now Excise & Taxation Department, Punjab has issued a public notice confirming that VAT @ 5% has been imposed on sugar w.e.f 25-07-2012.

It has also been clarified that surcharge will not be applicable on sugar hence rate of tax on sugar will be 5% only and not 5.5%.
Read On

Punjab VAT-Uploading of Intra-state Transaction(within Punjab) made compulsory

Excise & taxation Department Punjab has made uploading of intra-state movement of goods i.e movement of goods within the state of Punjab upto Rs. 2 lakh in case of Iron & Steel Goods and Rs. 3 Lakh in other case on the official website of the Department i.e, compulsory w.e.f 10th August 2012.

Section 51 of Punjab VAT Act, 2005 stipulates that every movement of goods shall be accompanied by documents as mentioned in sub-section 2 of this section. For the purpose of inter-state trade, information regarding such movement of goods is collected on the Information Collection centres(ICC) set up by the Department of Excise & taxation Punjab. To facilitate the furnishing of this information, the Department had introduced an e-service namely"e-ICC" whereby the owner of goods can furnish this information from his premises.

Read On