Penalty u/s 51 of Punjab VAT Act whether just and reasonable?0 comments Saturday, February 16, 2013
Section 51(7)(c) of Punjab VAT Act,
2005 prescribes penalty equal to 50% of the value of goods for not producing
requisite documents i.e (Invoice/Delivery challan, Goods Receipt etc.) at the
check post or Information collection centre with a view to attempt or avoid or
evade the due tax.
Similarly section 51(7)(b)
prescribes penalty equal to 30% of the value of goods, if the goods are
accompanied with requisite documents but attempt to evade tax or avoidance or
evasion of tax is proved.
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