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News from Punjab
1. Inspection
The Government of Punjab by
notification dated 5th November, 2007 restricted the inspection of sugar only if
the same was manufactured, as also levy sugar and Khandsari manufactured in the
said State. Simultaneously, by another notification, entry 152 was added to
Schedule B appended to the Punjab VAT Act, levying tax @ 4% on the sugar
imported from outside the State of Punjab.
Source : Sales Tax Matters,
Vol. 11 Part I, Page 2.
2. No tax on Mehandi
The Government of Punjab issued
another notification dated 7th December, 2007 under section 8 of the Punjab VAT
Act amending Schedule A, so as to add therein a new entry 21 relating to Mehandi
(Heena). Thus the same was declared as free from tax.
Source : Sales Tax Matters,
Vol. 11 Part I, Page 8.
3. Entry Tax Act
The Punjab Government, by
notification dated 9th January 2008, amended the Entry Tax Act, so as to bring
the provisions of the said Act on par with the Punjab VAT Act in place of the
repealed Act, Punjab General Sales Tax Act, 1948.
Source : Sales Tax Matters,
Vol. 11 Part 2,
Page 11(JS).
4. Input Tax Credit
The Punjab Government, by yet
another notification dated 9th January 2008, inserted section 13A to the Punjab
VAT Act, by which the payment of VAT was made subject to adjustment of the input
tax credit in respect of the tax paid under the Entry Tax Act.
Source : Sales Tax Matters,
Vol. 11 Part 2,
Page 14(JS).
News from Rajasthan
The time limit for submitting
VAT Audit Report under section 73 of the Rajasthan VAT Act, 2003 for the
financial year 2006-07 has been extended up to 31st March 2008.
Source : Shri M. L. Patodi,
Advocate, Kota
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