Friday, April 19, 2013

CHANGE IN VAT RATE WEF 16.04.13 IN PUNJAB WCT INCREASED


on Friday, April 19, 2013

Government of Punjab, Department of Excise & Taxation through its notification no. S.O./PA8/2005/5.8/2013 dated 16th April 2013 amended the Schedule A, B, D in the Punjab Value 
Added Tax Act , 2005.

The following amendment shall be effective from 16.04.2013.

1. In Schedule A (Tax Free) following entries have been added

  • i) Entry No. 81. School bags , pencils, erasers, sharpners, geomertry boxes, colour boxes and crayons, school water bottles , feeding bottles and nipples.
  • ii) Entry No. 82. Hearing aids intra ocular lens, sticks and other walking support items.
  • iii) Entry No. 83. Madhani, Lemon squeezer, Roller and rolling ins ( chakla valen ), Mat (Chattan) , Broom (Jharu), Pawa Chotta Toka, Doona and Pattal, Comb, Hair Pins, Hair Clips,and Kani Dasta.
  • iv) Entry No. 84. Dry Cocunut
2. In Schedule B ( Tax Rate 6.05% ) following entries have been omitted.
  • i) Serial no 23 which included combs.
  • ii) Serial no 37 which included Feeding Bottles & Nipples.
  • iii) Serial no 102 which included School Bag
  • iv) Serial no 133 which included writing instruments, geometry boxes, colour boxes, brushes for colour boxes, crayons pencil, pencil sharpeners and erasers. 
  • v) Serial no 138 which included Doona, Pattal, Baskets Tillon Grass and Sirki.
  • vi) Serial no 140 which included Hand Fans, Chalai and Jharu.
  • vii) Serial no 146 Saag Cutter Machine known as Mini Toka.
3. In Schedule B ( Tax Rate 6.05% ) following entries have been amended
  • i) Serial no 72 which included Shoes, Moulded plastic footwear , Hawai chappals and straps thereof, plastic footwear or Hand crafted footwear the price whereof does not exceed Rs.250/-. now has been been increased to Rs 750/-.

4. In Schedule D ( 20.5% ) following entries have been added
  • 2. Soft drink, aerated water and soda.


CHANGE IN TDS FROM PAYMENT MADE FOR  WORK CONTRACT TAX 

Punjab Govt. has vide notification dated 05.04.2013 brought amendment to section 27 of the PVAT Act, 2005 by increasing the rate of WCT leviable from 5% to 6% in PUNJAB.

The notification is applicable with effect from 05/04/2013.

CA Alok Krishan 
Chandigarh

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