The VAT rate was increased from four percent to fiver percent recently by Punjab Government. (See the detail about increase rates of Punjab from 4% to 5%). Now, Punjab Government has levied the surcharge @10% on VAT. The Excise and Taxation Department of Punjab has issued the notice in this regard on 4th Feb,2010. See below to see the notice. Surcharge will not be applicable on declared goods under Central Sales Tax Act. Download the declared goods items list.
- So first 4% turned out to be 5% now 5% turn out to be 5.5% (Hope it will stop here).
- 12.5% will be 13.75%.
The above are the examples of two vat slabs. Other VAT slabs will also be charged extra 10% surcharge.
Public Notice of Punjab VAT Surcharge @ 10%
GOVERNMENT OF PUNJAB
EXCISE & TAXATION DEPARTMENT, PUNJAB
PUBLIC NOTICE
ATTENTION: DEALERS /LAWYERS/CHARTERED ACCOUNTANTS
LEVY OF SURCHARGE / ADDITIONAL TAX
The Government of Punjab has levied Surcharge / Additional Tax @ 10% on all the goods other than those specified as Declared Goods under section 14 of Central Sales Tax Act, 1956 w.e.f. 05.02.2010. This Surcharge / Additional Tax will be charged on liquor w.e.f. 01.04.2010.
A. Venu Prasad,
Excise & Taxation Commissioner,
Punjab.
Updates : Clarification Regarding Surcharge / Additional Tax on Punjab VAT Rates
Related posts:
- Clarification Regarding Surcharge / Additional Tax on Punjab VAT Rates
- Punjab VAT Rates Increased from 4% to 5% w.e.f. 29-1-2010 on Schedule B Items
- Surcharge 5% on Haryana VAT from 1 April, 2010
- Haryana VAT Notification No. 3/2010 for Surcharge @ 5%
- Punjab ITC Can be Claimed up to Fourth Stage Only – Punjab VAT Major Amendment
{ 11 comments… read them below or add one }
sir,
HOW TO TRERAT SURCHARGE IS IT TO TREAT SEPRATELY
OR STRAIGHT FORWARD 13.75% OR 5.5% VAT BE LEVIED ON GOODS SOLD.
WITH REGARDS
THE GOVERMENT SHOULD NOT BE INCREASE THE VAT . FOR INCREASE THE GOVERMENT FUND THE GOVT. SHOULS BE LEVIS THE VAT ON CLOTH OR LEVID THE OCTRIE WHICH IS MUST
I want to know that if the change in vat will effect in closing stock or not? How will i calculate at the end of the financial year?
Surcharge / Additional Tax is applicabe on declared goods or not.
Local Sales tax Department says surcharge is applicable on declared goods @10%
Is surcharge applicable on CST 12.5% also in Punjab. please provide your suggestions.
Surcharge / Additional Tax is not applicabe on declared goods
HOW TO TRERAT SURCHARGE IS IT TO TREAT SEPRATELY
OR STRAIGHT FORWARD 13.75% OR 5.5% VAT BE LEVIED ON GOODS SOLD.
WITH REGARDS
if additional tax 10% applicable on central sales tax yes or not?
D/Sir,
We want to know that surcharges @ 10% paid on VAT against our purchases, are adjustable or not. Can we less these surcharges from surcharges charged and payable on sales.
Please clarify the new rates for CST after levy of Surcharge of 10%.
Please clearify that , Is additional tax 10% will be applicable on central sales 12.5% / Central Sales 5%