Constitutional validity of section 39-A of Punjab VAT Act, 2005

0 comments Saturday, May 17, 2014
As per section 39A of Punjab VAT Act, 2005, the Punjab VAT Refund Fund has been constituted and the amount of tax collected as Advance Tax under Section 6(7) shall be credited directly into the said Fund. It has been provided that the Fund shall be maintained and operated by the Department of Excise and Taxation in such manner as may be prescribed. It has also been provided that after allowing the refund claims from the Fund, the balance amount shall be deposited in the Consolidated Fund of the State as may be prescribed. 
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