New entry tax law-The Punjab Development of Trade, Commerce and Industries Ordinance, 2015

0 comments Thursday, May 28, 2015
The Punjab Government has introduced a new entry tax law by the name The Punjab Development of Trade, Commerce and Industries Ordinance, 2015. This ordinance is promuglated w.e.f 05.05.2015. 
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State Government did not have power to legislate Rule 21(8) of Punjab VAT Rules-P&H HC

0 comments Tuesday, May 26, 2015
Punjab & Haryana High Court in the case of The Jalandhar Iron and Steel Merchants Association(Regd), Jalandhar vs State of Punjab has held that the State Government did not have power to legislate Rule 21(8) of Punjab VAT Rules, 2005 before 01.04.2014 so as to restrict ITC on stock of iron and steel goods as existing on the date of reduction of tax on such goods.
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DETC(Admin) exercising power of DETC(Appeals) whether unconstituitional

2 comments Thursday, May 14, 2015
The Excise and Taxation Department vide its notification No. S.O.93/P.A.8/2005/S.3/2013 Dated 16.10.2013 designated all the officers rank of Deputy Excise and Taxation Commissioners of the Department to act as appellate authority u/s 62 of Punjab VAT Act, 2005, which mean that not only DETC(Appeals) but DETC(Admins) have also been authorized to act as appellate authority. Earlier only DETC(Appeals) were designated to act as appellate authority.
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Punjab VAT-No assessment or provisional assessment without the prior approval of ETC

0 comments Thursday, May 7, 2015
Punjab Government has suitably  amended Rule 47 of the Punjab VAT Rules, 2005 whereby no assessment or provisional assessment now can be framed without the prior approval of the Excise and Taxation Commissioner, Punjab.

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