PUNJAB VALUE ADDED TAX ACT, 2005

CHAPTER: I

PRELIMINARY

SECTION  1

:

Short title and commencement

SECTION 2

:

Definitions

SECTION 3

:

Commissioners and other officers

SECTION 4

:

Constitution of Tribunal

SECTION 5

:

Procedure of the tribunal

CHAPTER: II

INCIDENCE AND LEVY OF TAX

SECTION 6

:

Incidence of tax

SECTION 7

:

Liability of person registered under the Central Sales Tax Act, 1956

SECTION 8

:

Rate of Value Added Tax

SECTION 9

:

Rate of Turnover Tax

SECTION 10

:

Rounding off of tax

SECTION 11

:

Bar against collection of tax when not payable

SECTION 12

:

Liability of registered person

SECTION 13

:

Input tax credit

SECTION 14

:

Input tax credit in respect of stock held on the appointed day

SECTION 15

:

Net tax payable by a taxable person

SECTION 16

:

Tax free goods

SECTION 17

:

Zero-rated sales

SECTION 18

:

Refund of tax to certain categories

CHAPTER: III

LEVY OF PURCHASE TAX

SECTION 19

:

Levy of purchase tax on certain goods

SECTION 20

:

Levy of tax on turnover of purchase of goods in certain circumstances

CHAPTER: IV

REGISTRATION

SECTION 21

:

Person liable to register

SECTION 22

:

Voluntary registration for VAT

SECTION 23

:

Amendment of registration

SECTION 24

:

Cancellation of registration

SECTION 25

:

Security from certain class of persons

CHAPTER: V

PROCEDURE AND ADMINISTRATION OF TAX

SECTION 26

:

Returns

SECTION 27

:

Tax deduction from the amount payable to works contractor

SECTION 28

:

Audit of returns

SECTION 29

:

Assessment of tax

SECTION 30

:

Provisional assessment

SECTION 31

:

Tax liability of a casual trader

SECTION 32

:

Interest for non-payment or delayed payment of tax

CHAPTER: VI

PAYMENT AND RECOVERY OF TAX

SECTION 33

:

Due date of payment

SECTION 34

:

Tax as a debt due to the state government

SECTION 35

:

Liability under this act to be the first charge

SECTION 36

:

Arrear recoverable as arrears of land revenue

SECTION 37

:

Adjustment of any payment

SECTION 38

:

Restrictions on transfer of property

CHAPTER: VII

REFUND

SECTION 39

:

Refund of tax

SECTION 40

:

Interest on delayed refund

SECTION 41

:

Power to withhold refund in certain cases

CHAPTER: VIII

LIABILITY TO PRODUCE ACCOUNTS

SECTION 42

:

Accounts

SECTION 43

:

Audit of accounts by Chartered Accountants

SECTION 44

:

Period of retention of accounts

SECTION 45

:

Taxable person and registered person to issue invoice

SECTION 46

:

Production and inspection of accounts, impounding of documents, search of premises seizure of goods

SECTION 47

:

Cross checking of transactions

SECTION 48

:

Survey

SECTION 49

:

Power to collect statistics

SECTION 50

:

Publication and disclosure of information in public interest

CHAPTER: IX

ESTABLISHMENT OF INFORMATION COLLECTION CENTRES

SECTION 51

:

Establishment of information collection centres or check posts and inspection of goods in transit

CHAPTER: X

OFFENCES AND PENALTIES

SECTION 52

:

Penalty for failure to register

SECTION 53

:

Penalty fir failure to pay tax when due

SECTION 54

:

Penalty for failure to file return or annual statement

SECTION 55

:

Penalty for unauthorised collection of tax

SECTION 56

:

Penalty for evasion of tax

SECTION 57

:

Penalty for failure to issue invoice and use of false invoice

SECTION 58

:

Penalty for misuse of registration number

SECTION 59

:

Penalty for non payment of assessed demand

SECTION 60

:

Penalty in cases not covered elsewhere

SECTION 61

:

Authority competent to impose penalty

CHAPTER: XI

APPEAL AND REVISION

SECTION 62

:

First appeal

SECTION 63

:

Appeal to the tribunal

SECTION 64

:

Condonation of delay

SECTION 65

:

Revision

SECTION 66

:

Rectification of mistakes

SECTION 67

:

Bar on appeal against certain orders

SECTION 68

:

Appeal or revision to high court

CHAPTER: XII

MISCELLANEOUS

SECTION 69

:

Returns to be confidential

SECTION 70

:

Power to make rules

SECTION 71

:

Court fees on memorandum of appeal and application for revision

SECTION 72

:

No time limit for completion of assessment or amended assessment in certain cases

SECTION 73

:

Assessee permitted to attend through authorized agent

SECTION 74

:

Power to call for information

SECTION 75

:

Delegation of powers

SECTION 76

:

Information to be furnished regarding change of business

SECTION 77

:

Transfer of business

SECTION 78

:

Liability to tax on stock in certain cases

SECTION 79

:

Liability of partners

SECTION 80

:

Liability to pay tax in case of death

SECTION 81

:

Certain agents liable to pay tax for sale on behalf of principal

SECTION 82

:

Amalgamation of companies

SECTION 83

:

Liability in case of company, firm or society in liquidation

SECTION 84

:

Provision in case of inter-State trade

SECTION 85

:

Determination of disputed questions

SECTION 86

:

Power to seek assistancefrom police officer or other officer

SECTION 87

:

Power to summon witness and production of records

SECTION 88

:

Bar on certain proceedings

SECTION 89

:

Indemnity

SECTION 90

:

Burden of proof

SECTION 91

:

Power to remove difficulties

CHAPTER: XIII

REPEAL AND SAVING

SECTION 92

:

Repeal and saving of Punjab Act 46 of 1948

SECTION 93

:

Transitional provisions

SECTION 94

:

Repeal of Punjab Ordinance 5 of 2005

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