04 February 2010
Punjab govt has recently introduced entry tax in punjab.I want to know whether it is adjustable against vat output.kindly guide me regarding procedure to adjust it in vat return.whether we have to fill separate form along with return.
21 February 2010
The entry tax imposed by Punjab govt on 12 new goods is adjustable against the output tax liability under PVAT Act 2005 and Liability under CST Act 1956 as per section 3(6)of Punjab Tax on Entry of Goods into local areas Act 2000. Refer to my article at the following link
However there is no seperate form has been prescribed for claiming credit of entry tax nor there has been any corresponding change in VAT 15 quatorly return to that effect as yet.
CAclubindia
