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.)
This reduction will also
reduce entry tax as applicable on motor vehicles imported from outside the
State of Punjab into the Punjab and which is calculated at the rate
of difference between the tax paid in other State and the tax which would
have been payable in the State of Punjab, had such vehicle been purchased from
within Punjab.
The notification is as follows which is applicable w.e.f. 17.11.2015
PUNJAB GOVT. GAZ. (EXTRA),
NOVEMBER 18, 2015
(KRTK 27, 1937 SAKA)
447
PART III
GOVERNMENT OF PUNJAB
DEPARTMENT OF EXCISE AND TAXATION
(EXCISE AND TAXATION-II BRANCH)
NOTIFICATION
The 17th November, 2015
No. S.O.50/P.A.8/2005/S.8/2015.- Whereas the State Government is satisfied that circumstances exist which render it necessary to take immediate action in public interest; Now, therefore, in exercise of the powers conferred by sub-section (3) of section 8 of the Punjab Value Added Tax Act, 2005 (Punjab Act No. 8 of 2005), and all other powers enabling him in this behalf, the Governor of Punjab is pleased to make the following amendment in Schedule-E appended to the said Act, with immediate effect, by dispensing with the condition of previous notice, namely:-
AMENDMENT
In the said Schedule-E, after Serial No. 26 and the entries relating thereto, the following shall be added, namely:-
"27. All automobiles (i.e. commercial vehicles, 12%.
".passenger vehicles, three wheelers, two wheelers)
ANURAG AGARWAL,
Financial Commissioner Taxation and
Secretary to Government of Punjab,
Department of Excise and Taxation.
Posts
Dear Sir,
I'm trying to find this notification on Govt. Site but unable to do so. As this reduction is not clear to most of our dealer friends. Also I have contacted my HO but they also, are unable to authenticate this reduction. Plz let me know if there's any Govt. Website link stating this reduction.
Regards'