JUNE 2011 PVAT UPDATE-1

1.  NEW CHALLAN VAT 2B NOTIFIED , SURCHARGE's 20% PART IS NOW TO BE DEPOSITED IN PUNJAB INFRA DEVELOPMENT FUND, AND BALANCE SURCHARGE IS TO BE DEPOSITED ALONG WITH 90% OF VAT IN CHALLAN VAT 2 .i.e if ur vat amount is 100 and surcharge is 20; then 90(90% of 100)+16(80% of 20) = Rs.106 to be deposited in vat account in challan Vat 2 ;Rs 10(10% of 100) to be deposited in Punjab Municipal Fund in Challan Vat -2A; Rs 4 is to be deposited in punjab infra develeopment fund account in Challan Vat 2B;...no part of surcharge is to be deposited in punjab municipal fund(Vat 2A) as already clarified by ETC, Punjab  




2.  SPORTS GOODS MAY BE MADE TAX FREE IN PUNJAB VAT, ( not notified till date )

3. PUNJAB VAT MAY BE IMPOSED ON SALE OF USED CARS ( notified till date )

4. NEW E FILLING PVAT FORMS NOTIFIED WITH NATURE OF COMMODITY LISTS, AND WITH A SEPERATE COLOUMN FOR DETAIL OF SURCHARGE 
THE E FILLING OF QUARTER APRIL 2011 TO JUNE 2011 CAN BE DONE ONLY IN NEW FORMS.