PUNJAB VALUE ADDED TAX RULES, 2005

 

PRELIMINARY

 

1.   Short title and commencement.

2.       Definitions.-

 

REGISTRATION

 

3.   Application for registration, --

4.   Security from a taxable and registered person,-

5.   Registration Certificate. –

6.   Issue of duplicate registration certificate.

7.   Displaying of registration certificate.

8.   Displaying of signboard.—

9.   Declaration in respect of the manager or other officers of a person.

10. Maintenance of record of registration.

11. Amendment of registration.—

12. Amendment of registration in case of transfer of business. –

13. Cancellation of registration.—

14. Declaration of principal place of Business. –

 

DETERMINATION OF TAXABLE TURNOVER AND

CALCULATION OF NET TAX PAYABLE

 

15.   Determination of taxable turnover by a person.

16.   Classification of taxable turnover according to different rate of tax.

17.   Calculation of tax on taxable turnover.

18.   Conditions for input tax credit.

19.   Input tax credit on capital goods.

20.   Eligibility of input tax credit on job work.

21.   Inadmissibility of input tax credit in certain cases.

22.   Calculation of input tax credit.

23.   Input tax credit where identification of goods is possible.

24.   Input tax credit where identification of goods is not possible.

25.   Input tax credit on stock held on the appointed day.—

26.   Input tax credit on duplicate invoice. –

27.   Net tax payable.—

 

PERSONS ENGAGED IN CASUAL TRADE

 

28.   Application for grant of permission.

29.   Security from casual dealer.

30.   Import of goods by the casual trader.

31.   Extension of period of business of casual trader in the event of opening of new outlet.

32.   Mode of payment of tax.

33.   Procedure after closure of casual business and finalizing tax liability.

34.   Failure to seek permission.

35.   Detention of goods of casual trader.

 

 

RETURNS AND PAYMENT OF TAX

 

36.   Returns.

37.   Mode of payment and procedure thereafter.

38.   Deductions of Inter-state sales and Inter-state purchases.

39.   Evidence in support of inter-state dispatches from the State.

40.   Annual statement.

41.   VAT audit report by a Chartered Accountant.

42.   List of sales and purchases.

43.   Scrutiny of returns.

44.   Selection of persons for audit.

45.   Audit of returns, accounts, etc.