DEPARTMENT OF LEGAL AND LEGISLATIVE AFFAIRS  PUNJAB NOTIFICATION

 

–No. leg./2005    —— May, 2005

 

Punjab Ordinance No. —-of 2005-

Amendments in Sections 2 ,6, 32, 40, 48, 62 and 84

 

  The following Ordinance of the Governor of Punjab promulgated under clause (1) of Article 213 of the Constitution of India on the —– May, 2005, is hereby published for general information: –

 

PUNJAB ORDINANCE NO. —- OF 2005

 

The Punjab Value Added Tax (_______ Amendment) Ordinance, 2005

An

Ordinance

to amend the Punjab Value Added Tax Act, 2005.

 

Promulgated by the Government of Punjab in the Fifty- sixth year of the Republic of India.

 

Whereas, the Legislative Assembly of the State of Punjab is not in session and the Governor is satisfied that circumstances exist which render it necessary for him to take immediate action.

 

Now, therefore, in exercise of the powers conferred by clause (1) of Article 213 of the Constitution of India, the Governor of Punjab is pleased to promulgate the following Ordinance, namely: –

 

1.                  Short title and Commencement: –

1 This Ordinance may be called the Punjab Value Added Tax (——– Amendment) Ordinance, 2005.

II  It shall come into force from the 5^th day of May, 2005.

 

2.   Amendment of Section 2 of the Punjab Value Added Tax Act No. 8 of 2005: – In the Punjab Value Added Tax Act, 2005, (hereinafter referred to as the principal Act), in Section 2, clause (zs) the words, other than an exempted unit, shall be omitted.

 

3.   Amendment of Section 4 of the Punjab Act No. 8 of 2005: – In the principal Act, sub section (4) (c) of section 4 shall be substituted as under:

 

  (c) should have at least fifteen years experience of practicing as a Chartered Accountant under the Chartered Accountant Act, 1949 (Central Act 38  of 1949); or is, or has been, or is eligible for appointment as member of the Customs, Excise and Service tax Appellate tribunal constituted by the Union Government:

 

  (ii)  Sub section (4) (d) of the said section shall be omitted.

 

4.  Amendment of Section 6 of the Punjab Act No. 8  of 2005: – In the principal Act, in Section 6, in sub-section (3), in clause (a) and (b), for the words thirty , the words,  fifty, shall be substituted.

 

5.  Amendment of Section 32 of the Punjab Act No. 8 of 2005: – In the principal Act, in sub section (1), for the words, One and half percent, the words half percent (0.5%), shall be substituted.

 

6.  Amendment of Section 40 of the Punjab Act No. 8 of 2005: –

 

(i)     In the principal Act, in Section 40, for the words, three fourth of one percent , the words, half percent (0.5%), shall be substituted.

 

(ii)  In the principal Act, in Section 40, for the words, ninety, the words sixty, shall be substituted.

 

 

7.  Amendment of Section 48 of the Punjab Act No. 8 of 2005:-

 

(i)   In the principal Act, in Section 48, in sub-section (4) and clause (b), for the words, cash, stock or other valuable articles or,, the words stock or other shall be substituted.

(ii)  In sub section (5) of Section 48, for the words Cash, stock or other valuable articles or, the words Stock or other, shall be substituted.

(iii)  In sub section (6) of Section 48, for the words, stock or other valuable articles or, the words stock or other, shall be substituted.

 

8.  Amendment of Section 62 of the Punjab Act No. 8 of 2005: – In the principal Act, in Section 62, Sub-section (6) shall be omitted;

 

9.  Amendment of Section 84 of the Punjab Act No. 8 of 2005: – In the principal Act, in Section 84, in the proviso the words for such export the following words shall be substituted, namely: –

 

for such export subject to furnishing a declaration in form H specified in the Central Sales Tax (Regulation and Turnover) Rules, 1957, by the purchaser. 

 

 

Governor of Punjab