VAT on all automobiles reduced to 12% under Punjab VAT Act, 2005

1 comments Thursday, November 19, 2015
The Punjab Government, Excise and Taxation department, Punjab has reduced VAT on all automobiles (i.e. commercial vehicles, passenger vehicles, three wheelers, two wheelers) from 13% to 12%. That means now all automobiles will be taxable @ 13.2%(after adding surcharge of 10% as applicable u/s 8-B of PVAT Act, 2005.)
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Due date for efiling of VAT-20 of year 2014-15 extended to 30th November 2015

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GOVERNMENT OF PUNJAB 

DEPARTMENT OF EXCISE & TAXATION

PUBLIC NOTICE


KIND ATTENTION: DEALERS/CHARTERED ACCOUNTANTS/LAWYERS/OTHER STAKEHOLDERS

This is to inform all the concerned that the last date of e-filing of VAT-20 for the year 2014-15 has been extended till 30th November, 2015. 

Dated: 19th November, 2015

 Excise & Taxation Commissioner, Punjab
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Mere bonafide mistake in calculating reversal of ITC does not attract penalty-Punjab VAT Tribunal

0 comments Tuesday, November 17, 2015
In one of my cases namely M/s Shree Ganesh Roller Flour Mills Akalpur Road, Phillaur, District Jalandhar Versus The State of Punjab. Appeal No. 38 of 2015 decided on 10.09.2015 it has been decided by Punjab VAT Tribunal that mere bonafide mistake in calculating reversal of ITC does not attract penalty. The matter remanded back to DETC(A) for passing a speaking order considering the observations of the Tribunal.
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