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ork i i N B a e r a 8 a A ie s e e s , 2 PUNJAB GOVE GAZ (EXTRA NOVEMPBPIOTS 2014 295 (RRTKR 24 TOSS SARA) rAnT I DEPARTMENT OF LPGAT AND LEGISLATIVE ALTAIRS. PUNTAT ‘ NOTIFICATION 4 | Ihe | Sth November, 2014 No. 49-Leg./2013.. The following Aet ot the Legislature of the State of Punjab received the assent of the Governor of Punjab onthe 15th Day of November, 201 4. is hereby published for general information.
THE PUNJAR VALUE ADDED TAX (SECOND AMENDMENT) ACT, 2013 (Punjab Act No, 38 of 2013) AN ACT further to amend the Punjab Value Added Tax Act, 2005 S e e e tc e e n oe ee e e a pe l 4 a o t b e a RE it enacted by the Legislature of the State of Punjab in the Sixty- 7 fourth Year of the Republic of India, as follows: -
1. (2) ThisAct may be called the Punjab Value Added Tax (Second wand ile en | Amendment) Act, 2013. commencement.
—_— (2) Wt shall come into force on and with effect from the date of its Mo f publication in the Official Gazette:
Provided that amendment of sub-section (/) of section 13 shall come into force on and with effect from the Ist day of April, 2014 and omission of sub-section (/-4) of section 13 shall be deemed to have come into force on } and with effect from the 4th day of October, 2013.
2. In the Punjab Value Added Tax Ast 2005 (hereinafer referred to | .
} as the principal Act), in section 4, for sub-section (2), the following sub-section nce | shall be substituted, namely:- Kameantet */2) The Tribunal may consist of a Chairman and three other 7” members to be appointed by the State Government from time to time.” Amendment in a 3. Inthe principal Act, in section 6, for sub-section ( 7), the following a é |} sub-section shall be substituted, namely:- Punjab Act of i | . : 2005.
(7) (a) Notwithstanding anything contained in this Act or the Rules Scanned with CamScanner ay PUNJAB GOVT. GAZ. (EXTRA), NOVEMBER 15.2013 29¢ ; Jad ' Ad) i a e n e a = ae te a P i p e , A , (KRTK 24, 1935 SAKA)
(b) made thereunder, the State Government may by notification Vv hy cation specify the goods on which a taxable person shall pay tax in advance at the rates notified by the Government but Het exceeding the rates including Surcharge applicable on auch goods under this Act, when he imports such goods inte the State subject to such conditions, as the State Government may specify in the notification. The aforesaid payment of tax in advance shall be counted towards the final tax liability of the taxable person:
Provided that the State Government may by notification exempt any taxable person or class of taxable persons from payment of tax in advance or reduce the rate of payment of tax in advance subject to such conditions. as may be notified:
Provided further that if on an application made by a taxable person, the Commissioner or an officer authorized by him, after verifying all aspects of the case, arrives at a decision that such taxable person should be exempted from payment of tax in advance or that the rate of payment of tax in advance Should be reduced for such taxable person, he may do so and impose such terms and conditions on such taxable person as he may deem fit.
Explanation.- The taxable person, who imports goods into the State, shall pay tax in advance, on the presumption that such goods are meant for the purposes of sale or for use in manufacture or processing of goods meant for sale, unless, it is proved otherwise by such taxable person. It is further presumed, unless, it is proved otherwise by such taxable person, that such goods or any product manufactured therefrom, shall not be sold below the price at which such goods have been purchased and imported in the State.
The tax already paid in advance under the provisions of subsection (7) of section 6 as it existed prior to commencement of the Punjab Value Added Tax (Second Amendment) Act,
2013. shall be deemed to have been paid tax in advance under the provisions of clause (a).".
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4. Inthe principal Act, after section 8-B, the following sections shall be inserted, namely:- "8-C.(1) Notwithstanding anything contained in this Act, the State Tax on maximum Government, if satisfied that it iS necessary or expedient retail price. so to do in public interest, may, by notification in the Official Gazette, direct that, in respect of any goods or class of goods covered under the Standards of Weights and Measures (Packaged Commodities) Rules, 1977, g taxable person who is a manufacturer or a first importer of goods, may, at his option, pay tax on the basis of Maximum Retail Price (MRP) as printed upon such goods subject to such conditions as the State Government may specify in the notification.
(2) A taxable person, who opts to pay tax as provided under sub-section (1), shall pay tax at the rate as notified by the State Government on the value of Maximum Retail Price (MRP) by issuing an invoice showing value of goods and tax separately, as Maximum Retail Price (MRP) printed would be inclusive of the tax payable. For the Purpose of computing tax liability, such a taxable person shall not be entitled to claim any deduction on account of any trade discount or incentive in terms of quantity or cash discount that he may have given to the purchaser.
(3) The taxable person, who has opted under sub-section (J ), Shall be at liberty to cancel his option by making an application to the designated officer, in such form and subject to such conditions as the State Government may specify in the notification.
(4) Allsubsequent taxable persons, purchasing goods on which tax on the basis of Maximum Retail Price (MRP) as provided under sub-section (J ) has already been paid, shall be exempted from payment of tax on the sale of such goods, Subject to such conditions as the State Government may specify in the Notification.
8-D. Notwithstanding anything contained in this Act, the State Power to grant tax Government may, if satisfied that it iS necessary or INCENtives to . . ; ‘al certain classo¢ ©XP€dient so to do in the interest of industria industries, development of the State, grant tax incentives to such Insertion of new sections 8-C, 8-D and 8-E in Punjab Act 8 of 2005.
Scanned with CamScanner PUNJAB GOVT. GAZ. (EXTRA), NOVEMBER 15,2011 998 (KRTK 24, 1935 SAKA) ters, —— Ac iinet ee class of industries for such period and subject to such conditions, as nay be prescribed, in the case of industries, which came into production fur the first time, as and when notified in the Industrial Policy framed by the Department of Industries. | 8-E. Notwithstanding anything contained in the Act, the State Retention of tax Government, may, if satisfied that jt is necessary of collected. expedient so to do in the interest of industrial development of the State, allow retention of tax collected to such clags of industries subject to such conditions, as may be prescribed."
S. Inthe principal Act, in section 13,- Amendinent in . . . ; : section 11 of (i) insub-section (J), for the first proviso, the following proviso Piitiiati et Wot shall be substituted, namely:- 2005 "“ Provided that the input tax shall not be available as input tax credit unless such goods are sold within the State or in the course of inter-State trade or commerce or in the course of export or are used in the manufacture, processing or packing of taxable goods for sale within the State or in the course of inter-State trade or commerce or in the course of export:";
(ii) sub-section (/-A) shall be omitted;
(iii) for sub-section (9), the following sub-section shall be substituted, namely:- "(9) A person shall reverse input tax credit availed by him on goods which remained in stock at the time of closure of the business."; and
(iv) for sub-section (/2), the following sub-section shall be substituted, namely:- "(12) Save as otherwise provided hereinafter, input tax credit shall be claimed only against the original VAT invoice and will be claimed during the period in which such invoice is received.
The input tax shall be utilized in accordance with the conditions mentioned in this section, but in no case the amount of input tax credit on any purchase of goods shall exceed the amount ie et. > a pk ite si ' Scanned with CamScanner PUNJAB GOVT GAZ. (EXTRA) NOVEMRER IS.201a aay (KRTK 24, 1935 Sak ay ——— ™ ™ — a:
Of tax , in respect of the same BoOods OF BOOdS Used in manufacture of same goods. actually paid, if any wikder this i :
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ve a eft er PM E A > ‘ e T el 28 e t e er at es ~y S R r a s t e e i e ba ct ia a e e s e s L n I a Act, into the Government treasury,"
6. Inthe Principal Act, in section 29,- AmOa de (a (Y for sub-section (4), the following SUD-Seolion shall be _ Selina oa , “Puna AotW ai substituted, namely ;- MAA “(M) Anassessment under sub-section (hor Sub-seotion (3), may be made within a period of six years atler the date When the annual Statement was filed Or due ta be ied, whichever is later:
Provided that the assessment under Sub-section (2) ar sub-section (3), in respect of which annual Statement for the assessment year 2006-07 has already been filed, can he made till the 20th day of November, 2014.
Explanations: (1) The limitation period of six years for an assessment under sub-section (2) or sub-section (3), shall also apply to those cases in which the aforesaid Poriod of six i years has yet not expired.
Value Added Tax (Second Amendment) Act, 2013, the Commissioner was not required to issue any notice to the ; concerned person before extending the limitation period of | (2) Itis clarified that prior to commencement of the Punjab assessment."; and
(ii) after sub-section (/0), the following sub-section shall he inserted, namely:- | "(10-A) Notwithstanding anything to the contrary contained | in any judgement, decree or order of any Court, tribunal or | other authority, an order passed by the Commissioner under sub-section (4) prior to commencement of the Punjab Value Added Tax (Second Amendment) Act, 2013, shall not be invalid on the ground of prior service of notice or communication of such order to the concerned person. * S r S e e :
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Oe tee ca } hn rrr ae mnt Te 4 sali We arseriod marr ty a "19-4 (1) There chail be comatiutad 8 ond 1; ton calted the Pemsate a he a | Prong vat VAL Refund Vwnd, whch shall te eames amd Ag O ated , 4 Pend operated try the | pertvnees hace ond Vexaticn a KS wh manne as may Me prevcrised 4 (2) The arncmnt cAlected on acconme of advance tan ender a wah-saction (7) A sextum 6, hall Cwecthy be ceoteed wie the yar.
, 4 VAT Refund f und 3 | (3) After alleroing refund claumes from the F wend, tee taller arnt in the band, shall be depowited un the Consolidated Fumdé of the State, as may be prescribed * q 8. In the principal Act, after section 46, the following mew section insertion of ace ” shall be inserted namely - cccten 0-4 = % “h6-A (1) Where a designated officer has. for the purpose Det “ 4 Power we A amy proceeding under this Act, reasons to believe Sadanda. that any of the goods as notified by the State Government whether in stock or im transit, are underpriced as shown in # document or book of account produced before him. be may.
with the prior approval of the Commissioner or such other officer as the Commissioner may, in writing, authorse for the purpose.
make an offer to purchase such goods at the price shown in the document of book of account, increased by ten per cent phus freaghe and other expenses, if any, curred by the owner im relanon to the pe mrds
(2) If the owner of the goods accepts the offer, as prownded wader sub-section (/), he chall make delrvery of the goods on « date. time and at such place, as specified by the officer makung the offer and shall be pasd the offered price wth other cxpenses wethun } 4 period of ten days of the delivery of the goods, but, if he rejects a the offer, or after accepting the offer facts to deliver the goods on the specified date, tome and at the specified place, # shal! be construed as 1 conclusive proof that the owner has underpriced M e > i Scanned with CamScanner PUNJAB GOVT. GAZ. (EXTRA), NOVEMBER 15,2013 23] (KRTK 24, 1935 SAKA) the goods and the price of the goods as determined by the designated officer to the best of his judgement shall be considered as the actual price of such goods.
(3) The goods purchased under Sub-section (2), shall be sold by public auction in the manner, as may be prescribed, as early as possible, but, if the goods are of a perishable nature or subject to speedy and natural decay or are such as may, if held, lose their value or when the expenses of keeping them are likely to exceed their value, then, such goods shall be immediately sold or otherwise disposed of in the manner, as may be prescribed. The sale proceeds of the goods or the amount obtained by disposal of the goods shall be deposited in the Government treasury.".
In the principal Act, in section 51,- Amendment in section 51 of () in sub-secti Fr ————— (i) in sub-section (6), for clause (b), the following clause shall Punjab Act 8 of be substituted, namely:- 2005.
“(b) If the owner or the person Incharge of the goods has not submitted the documents as mentioned in sub-sections
(2) and (4) or has not submitted the information, as specified in the rules at the nearest check post or information collection centre, in the State, as the case may be, on his entry into or before exit from the State, such goods shall be detained along with the vehicle for a period not exceeding seventy two hours subject to orders under clause (c) of sub-section (7).
Note:- (1) “Person in-charge of the goods” shall include carrier of goods or agent of a transport company or booking agency or any other bailee for transportation and in-charge or owner of a bonded warehouse or of any other warehouse.
(2) “information collection centre” shall include Virtual information collection centre."; and
(ii) after sub-section (/2), the following sub-section shall be inserted, namely:- | "(12-A) Where a goods vehicle is found transporting the goods on an escape route and a penalty exceeding rupees Scanned with CamScanner PUNJAB GOVT. GAZ. (EXTRA), NOVEMBER 15,2013 232 - ; _(KRTK 24,1935 SAKA ) ae a Iwo lacs has been imposed upon the owner Of the goods under Clause /c) of sub-section (7) and if the o fficer imposing the penalty is satisfied that the owner Of the goods vehicle or the transporter is also involved in Committing the aforesaid offence, then the owner of the g00d8 vehicle or the transporter, as the case may be, shall also be liable to Pay a penalty of rupees twenty five thousands for the first time of occurrence of such an offence and if the same vehicle is again found to be involved in such like an offence anda penalty exceeding rupees (wo lac is again imposed, then such officer shall order the confiscation of the goods vehicle. The g00ds vehicle so confiscated, shall be sold by public auction in the prescribed manner.
Note.~ An ‘escape route' shall mean the route on the way of which no Information Collection Centre is located.", 4 10. Inthe principal Act, in section 56, in the last line, for the sign ".", the Amendment in | sign ":" shall be substituted and thereafter, the following proviso shall be added, <ton 56 of _ | Punjab Act 8 of 7 hamely:-
2005.
"Provided that in case a person, who has availed of a refund under i a star rating/fast track refund scheme, as may be prescribed, is subsequently found to have willfully or fraudulently claimed refund which was not due to him, he shall be liable to pay penalty subject to the maximum of five times the refund amount so claimed, as may be prescribed by State Government, in addition to the payment of refund amount so claimed and interest payable thereon.", Il. In the principal Act, in section 66, for sub-section (2), the following Amendment in ; , ion 66 of ‘Sub-section shall be substituted, namely:- Panjab Actor "(2) The Tribunal may suo-moto or on a reference from the affected 2005.
person of the Commissioner or any other officer so authorized by the Commissioner may, consider rectification of a mistake : or an error apparent from the record in an order within a period of five years from the date of passing of such order:
Provided that on such rectification shall be made. if it e f o r fa a , o t e e l > .
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Explanation. Error apparent from the record in an order shall include an order that has become erroneous as a result of amendment of this Act.”.
H.P.S. MAHAL, Secretary to Government of Punjab, Department of Legal and Legislative Affairs.
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