THE PUNJAB VALUE ADDED TAX ACT, 2005 Notification
-

Body Notification No. S.O.P.A.8/2005/S.8-A/2013.- Dated 11th November, 2013

Whereas the Governor of Punjab is satisfied that it is expedient so to do in the public interest;

Now, therefore, in exercise of the powers conferred by section 8-A of the Punjab Value Added Tax Act, 2005 (Punjab Act No. 8 of 2005), and all other powers enabling him in this behalf, the Governor of Punjab is pleased to direct that the plywood manufacture, shall at their option, in the form specified below, pay Lump Sum tax, at the rates as specified in the Table given below, namely:-

TABLE

Serial No.	Number of plates in a press with size	Annual rate of tax per press in rupee
1	2	3
1	(1) 12 x 8' x 4'	14,50,000=00
	(2) 10 x 8 'x 4'	12,00,000=00
	(3) 07 x 8'x 4'	08,40,000=00
	(4) A x 8' x 4'	3750x32 (i.e. 8' x 4') x A
2	(1) 10 x 7' x 4'	10,50,000=00
	(2) A x 7'x 4'	3750 x 28 (i.e. 7'x4') x A
3	(3) 10 x 6' x 4'	08,50,000=00
	(4) A x 6' x 4'	3225 x 24 (i.e. 6' x 4' ) x A
4.	(5) 10 x 4' x 4'	5,00,000=00
	(6) A x 4' x 4'	3125 x 16 (i.e. 4'x4') x A

Note 1: For the purpose of the above Table, 'A' means any other number of plates.

Note 2: For the purpose of this notification, 'person' means the proprietor or partner or manager or Managing Director of a plywood Manufacturing unit.

Any manufacturer referred to above, shall be entitled to avail this facility of payment of Lump sum tax, subject to the giving his option, in the following format namely:-

OPTION FORM

I, .................................... s/o, d/o, w/o ...................... r/o ..................................., of M/s. .......................... holding TIN No ................................... for his manufacturer unit, situated at ............................. do hereby give my option on this day ....................... of month ............................... year 20......... for payment of lump sum tax, from the month/quarter for ............... number of presses of sizes ....................., with ......................... number of plates of the said size as the case may be, which presently installed at my unit.

Signature

(Seal)

CONDITIONS

1. The Persons, who opt for payment of lump sum tax, under the notification shall-

(1) not be entitled to input tax credit as envisaged in clauses (a) and (b) of sub-section (2) of Section 8-A of the Act;

(2) pay tax for the entire month, in which he makes an application in the aforesaid Form;

(3) pay tax for each press as per the rates specified above.

(4) obtain the declaration form 'c', if he procures raw material for his unit from outside the State of Punjab;

(5) issue retail invoice only;

(6) pay tax as per the rates specified above, for the sales made either within the State of Punjab or outside in any manner;

(7) inform the Designated Officer, within a period of ten days, in case he increases the size of presses or number of person in his unit, failing which, he shall be liable to pay the penal tax, as specified in the Act;

(8) be liable to pay a yearly increase, at the rate of eight percent, over and above the rates specified above, on and with effect from the first day of April, 2015; and

(9) pay lump sum tax, in twelve equal monthly installments, which shall be payable by the 10th day of each month during a financial year, and shall submit a copy of the challan or receipt in any other form, as the case may be, to the Designated Officer.

2. A taxable person, who makes any purchase from a manufacturer, who as given his option under section 8-A of the Act, in the above Form, shall not be entitled to input tax credit, and shall liable to pay tax on its value addition.

3. If a person opt for lump sum tax under section 8-A of the Act, and he undertake any trading activity also, in that case, he shall pay lump sum tax, for the purposes of manufacturing at the rates specified above, and for trading activity, he shall be liable to pay tax, at the rates as specified in the Act, and he shall maintain separate accounts of both of the aforesaid activities.

4. If a person,-

(1) reduces the existing manufacturing capacity of his unit; or

(2) closes his unit; or

(3) opts to discontinue from payment of tax under section 8-A of the Act, shall inform the Designated Officer, thirty days in advance, and shall be liable to pay tax till the last day of that month, on which his application for the aforesaid purpose, is accepted and communicated to him;

Provided that if such person fails to intimate for any of the above eventuality to the Designated Officer, it would be presumed that his unit remained functional throughout.

5. In case a person, who does not give his option under section 8-A of the Act, he shall give due intimation under e-trip system, as provided in rules 64-A, 64-B and 64-C of the Punjab Value Added Tax Rules, 2005.

D.P.REDDY,

Financial Commissioner Taxation and

Secretary to Government of Punjab,

Department of Excise and Taxation