Surcharge on vat in punjab

Shivani (Learner) (1881 Points)

06 February 2016

Dear Friends

Is their surcharge of 10% applicable in case of retail sales also in Punjab or is it only in case of sale to registered dealers?

regards

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2 Replies

AMBUJ SHARMA (CHARTERED ACCOUNTANT) (243 Points)
Replied 06 February 2016

Surcharge of 10% is applicable only in case of registered dealer sale raising Tax invoice since a seller cannot charge tax on retail Invoice.

Shivani (Learner) (1881 Points)
Replied 07 February 2016

Dear Ambuj

i found the answer to my query. actually i was making a mistake in my return. once i corrected it surcharge got reflected in vat return.

i dont agree with ur reply that vat is not charged on retail invoice.

everyday we buy stuff from the market and we get retail invoice and always there is vat charged on retail invoice.

just because seller is selling something to a consumer and issuing retail invoice doesnt mean that vat will not be charged.

also being an indirect tax final burden of tax always falls on the consumer. tax will go out of his pocket.

regards

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