Powers u/s 8(3) of PVAT Act should be exercised in exceptional circumstances

0 comments Monday, September 3, 2012


Section 8(3) of Punjab VAT Act, 2005 provides that a prior 15 days notice is required to be issued by notification of intention to amend the schedules, before any schedules are amended. However the State Government may also dispense with the requirement of issuance of the prior notice if the circumstances so exist. Section 8(3) runs as under:
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Notifications relating to VAT increase by 0.5% in Punjab

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Punjab Government has increased the VAT rate by 0.5% on almost all goods under Punjab VAT Act, 2005 for which a public notice was issued earlier in the newspapers. Now the official notifications are available and  sharing the same herebelow for the benefit of all concerneds.

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