PUNJAB VALUE ADDED TAX ACT, 2005
1. Short title and
commencement
3. Commissioner and other
officers
7. Liability of person
registered under the Central Sales Tax Act, 1956
11. Bar against collection of
tax when not payable
12. Liability of registered
persons
14. Input tax credit in
respect of stock held on the appointed day
15. Net tax payable by a
taxable person
18. Refund of tax to certain
categories
19. Levy of purchase tax on
certain goods
20. Levy of tax on turnover of
purchase of goods in certain circumstances
20. Persons liable to register
22. Voluntary registration for
VAT
24. Cancellation of
registration
25. Security from certain
classes of persons
PROCEDURE AND ADMINISTRATION OF TAX
27. Tax deduction from the
amount payable to works contractor
31. Tax liability of a casual
trader
32. Interest for non‑payment
or delayed payment of tax
34. Tax as a debt due to the
State Government
35. Liability under this Act
to be the first charge
36. Arrear recoverable as
arrears of land revenue
38. Restrictions on transfer
of property
40. Interest on delayed refund
41. Power to withhold refund
in certain cases
43. Audit of accounts by
Chartered Accountant
44. Period of retention of
accounts
45. Taxable
person and registered person to issue invoice
47. Cross‑checking of
transactions
49. Power to collect
statistics
50. Publication and disclosure
of information in public interest
ESTABLISHMENT OF INFORMATION COLLECTION CENTRES
52. Penalty for failure to
register
53. Penalty for failure to pay
tax when due
54. Penalty for failure to
file return or annual statement
55. Penalty for unauthorized
collection of tax
56. Penalty for evasion of tax
57. Penalty for failure to
issue invoice and use of false invoice
58. Penalty for misuse of
registration number
59. Penalty for non‑payment
of assessed demand
60. Penalty in cases not
covered elsewhere
61. Opportunity before
imposition of penalty
67. Bar on appeal against
certain orders
69. Returns to be confidential
71. Court fees on memorandum
of appeal and application for revision
72. No time limit for completion
of assessment or amended assessment
73. Assessee permitted to
attend through authorized agent
74. Power to call for
information
76. Information to be
furnished regarding change of business
78. Liability to tax on stock
in certain cases
80. Liability to pay tax in
case of death
81. Certain agents liable to
pay tax for sales on behalf of principal
83. Liability in case of
company, firm or society in liquidation
84. Provisions in case of
inter‑State trade
85. Determination of disputed
questions
86. Power to seek assistance
from police officer or other officer
87. Powers to summon witness
and production of records
88. Bar on certain proceedings
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SCHEDULE A‑ LIST OF TAX FREE GOODS
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SCHEDULE B‑ LIST OF GOODS TAXABLE @ 4 %
Ø LIST OF INDUSTRIAL INPUTS AND PACKING MATERIALS
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SCHEDULE C‑ LIST OF GOODS TAXABLE @ 1%
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SCHEDULE D‑ LIST OF GOODS TAXABLE @ 20%
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SCHEDULE E‑ LIST OF GOODS TAXABLE AT SPECIAL RATES
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SCHEDULE F‑ LIST OF GOODS TAXABLE @ 12.5%