Representation to Punjab Govt. on restriction of ITC on iron and steel under Punjab VAT

0 comments Thursday, February 27, 2014

I had prepeared representation on behalf of Iron and steel industry in Punjab, which has been filed with the Punjab Government for withdrawl of latest notification dated 01.02.2014 regarding restriction of input tax credit on iron and steel goods to only two stages and also on closing stock as existing on the date of reduction of tax from 4.95% to 2.75% on iron and steel goods.

The representation covers the difficulties faced by the industry due to the above notification and some light has also been thrown on the constitutional validity of amendment covered under the said notification.
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