Automobile

last date of e-filing of VAT-20 for the year 2014-15 has been extended till 30th November, 2015.

GOVERNMENT OF PUNJAB DEPARTMENT OF EXCISE & TAXATION PUBLIC NOTICE KIND ATTENTION: DEALERS/CHARTERED ACCOUNTANTS/LAWYERS/OTHER STAKEHOLDERS This is to inform all the concerned that the last date of e-filing of VAT-20 for the year 2014-15 has been extended till 30th November, 2015. Dated: 19th November, 2015                                                Excise & Taxation Commissioner, Punjab

Implication Revised Notification

Amendments vide Notification No. 17/P.A.8/2005/S.8/2014 dated 25^th March, 2014 w.e.f. 01.03.2014 read with Notification No. S.O 17/P.A.8/2005/S.8/2014 dated 21/02/2014 w.e.f. 01/03/2014  w.r.t to Taxation on First Sale at the below mentioned rates and the Items being tax-free at subsequent stages.

A)     Amendments in Schedule A (deals with tax-free goods); - w.r.t to goods which are taxable at first stage under Schedule E and taxfree at subsequent stages under Schedule A.        

In the said schedule A, in serial No. 87 –

1)     In item No. (vi) for the word “jellies” the words “branded snacks and namkeen” shall be substituted.

Old entry reads as under –  “All types of branded and packaged food products i.e chips, wafers, chocolates, toffees, chewing gums and bubble gums, ice creams, Breakfast Cereals, Muesilli, Corn Flacks, pasta, macroni, biscuits, frozen desserts, frozen ready to eat products, meal makers, instant soups , instant noodles, ready to eat

products, custard powder, bakery products, baby foods, coffee powder, ice tea, coffee premix, tea premix, “jellies”, ketchup and spreads;

New entry ;- “All types of branded and packaged food products i.e chips, wafers, chocolates, toffees, chewing gums and bubble gums, ice creams, Breakfast Cereals, Muesilli, Corn Flacks, pasta, macroni, biscuits, frozen desserts, frozen ready to eat products, meal makers, instant soups , instant noodles, ready to eat products, custard powder, bakery products, baby foods, coffee powder, ice tea, coffee premix, tea premix, “branded snacks and namkeen”, ketchup and spreads;

    

Effect – That w.e.f. 01/03/2014 Branded Snacks and namkeen shall be taxable @ 14.5% at the first point of sale under Schedule E and shall be taxfree at subsequent sale under Schedule A.

 Surcharge @ 10% shall be extra.

2)     In item No. (viii) for the words “jams” the words and signs “Jams, Jelly” shall be substituted.

Old Entry reads as under – “Processed fruits and vegetables i.e. Fruit “jams”, jelly, pickle, fruit squash, paste, fruit drink and fruit juice (whether in sealed container or otherwise).

New entry ;- “Processed fruits and vegetables i.e. “Fruit, jams, jelly”, jelly, pickle, fruit squash, paste, fruit drink and fruit juice (whether in sealed container or otherwise). 

Effect – That w.e.f. 01/03/2014 Fruit Jelly shall be taxable @ 6.25% at the first point of sale under Schedule E and shall be taxfree at subsequent sale under Schedule A.

 Surcharge @ 10% shall be extra.

3)     In item no. (ix) the words “branded” shall be omitted.

Old entry reads as under ;-   “Roasted or fried grams and groundnuts, namkeens and branded snacks”

New entry;-  “Roasted or fried grams and groundnuts, namkeens and snacks”.

Effect – That w.e.f. 01/03/2014 Non-branded Snacks and namkeen shall be taxable @ 6.25% at the first point of sale under Schedule E and shall be taxfree at subsequent sale under Schedule A.

 Surcharge @ 10% shall be extra.

4)     In item (xiv), the sign and the words”, “Vegetable Oil including gingili oil and bran oil” shall be omitted;

Old entry reads as under ;-  Edible Oils, Vegetable Oil including gingili oil and bran oil;

New Entry ;-    Edible Oils.

Effect – That w.e.f. 01/03/2014 Edible Oil other than Vegetable Oil including gingili oil and bran oil shall be taxable @ 6.25% at the first point of sale under Schedule E and shall be taxfree at subsequent sale under Schedule A.

 Surcharge @ 10% shall be extra.

5)      in item (xix), the word “Branded” shall be omitted;

Old entry reads as under ;- Branded Spices of all varieties and forms including cumin seed, aniseed, turmeric and dry chillies;

New Entry ;-  Spices of all varieties and forms including cumin seed, aniseed, turmeric and dry chillies;    

Effect – That w.e.f. 01/03/2014 All varieties of spices (both branded & non branded) shall be taxable @ 6.25% at the first point of sale under Schedule E and shall be tax-free at subsequent sale under Schedule A.

 Surcharge @ 10% shall be extra.

6)      After item (xxiii), the following item, and Notes shall be inserted, namely:-

“(xxiv) Vanaspati (Hydrogenated Vegetable Oil);

Effect - New Entry is added in the above schedule, i.e. the same shall be taxable at first stage @ 6.25 under Schedule E and tax free at at subsequent stages under Schedule A.

Surcharge @ 10% shall be extra.

Note -1;-

The commodities specified in the below serial numbers of Schedule A;-

(viii) - “Processed fruits and vegetables i.e. Fruit, jams jelly, jelly, pickle, fruit squash, paste, fruit drink and fruit juice (whether in sealed container or otherwise)

(ix) -  “Roasted or fried grams and groundnuts, namkeens and snacks”.

(x) -    “Branded Honey”

(xi) –  “Branded Atta, maida, suji and besan”

 (xii) -  “Branded Cottage Cheese (Paneer), processed cheese including mozzarella, parmesan and other varieties of processed cheese;

(xiii) –  Desi Ghee;

(xiv) - Edible Oils,

 (xv) - Sweetened Flavored Milk;

 (xvii) - Coffee beans and seeds, cocoa pod and chicory;

 (xxiii) - Drugs and medicines including vaccines, syringes and dressing, mediated ointments produced under drug license, light liquid paraffin of IP and other grades, medical equipments/devices and implants;

(xxiv)  - Vanaspati (Hydrogenated Vegetable Oil)

As per the Notification dated 25/03/2014, on the above items when the tax has been paid on the first point of sale and the item is sold in the retail packing of up to 10 kg, the item shall be tax-free at the subsequent stages.

In other words if the above item is sold in the retail packing of 10 kgs or above then the item shall be taxable at subsequent stages and the taxable person shall be eligible of Input Tax Credit as well. ( i.e. incase of retail packing of 10 kgs or above the above items shall be out of the ambit of Notification.)

Note 2:-

The commodities specified in the below serial numbers of Schedule A;-

(xvi) Tea excluding Green tea;

(xix) Spices of all varieties and forms including cumin seed, aniseed, turmeric and dry chillies;  

As per the Notification dated 25/03/2014, on the above items when the tax has been paid on the first point of sale and the item is sold in the retail packing of up to 1kg, the item shall be tax-free at the subsequent stages.

In other words if the above item is sold in the retail packing of 1 kg or above then the item shall be taxable at subsequent stages and the taxable person shall be eligible of Input Tax Credit as well. ( i.e. incase of retail packing of 1kg or above the above items shall be out of the ambit of Notification.)

    

B)     Amendments in Schedule E, (Goods taxable @ special rates) w.r.t goods taxable at first point of sale ;-

In Schedule E; serial No. 15 ;-

1)      In items 6, for the word “jellies”, the words” branded snacks and namkeen” shall be substituted;

Old entry reads as under –  “All types of branded and packaged food products i.e chips, wafers, chocolates, toffees, chewing gums and bubble gums, ice creams, Breakfast Cereals, Muesilli, Corn Flacks, pasta, macroni, biscuits, frozen desserts, frozen ready to eat products, meal makers, instant soups , instant noodles, ready to eat

products, custard powder, bakery products, baby foods, coffee powder, ice tea, coffee premix, tea premix, “jellies”, ketchup and spreads;

New entry ;- “All types of branded and packaged food products i.e chips, wafers, chocolates, toffees, chewing gums and bubble gums, ice creams, Breakfast Cereals, Muesilli, Corn Flacks, pasta, macroni, biscuits, frozen desserts, frozen ready to eat products, meal makers, instant soups , instant noodles, ready to eat products, custard powder, bakery products, baby foods, coffee powder, ice tea, coffee premix, tea premix, “branded snacks and namkeen”, ketchup and spreads;

2)      In item 8, for the word “Jams”, the words and signs “Jam, Jelly” shall be substituted;

Old Entry reads as under – “Processed fruits and vegetables i.e. Fruit “jams”, jelly, pickle, fruit squash, paste, fruit drink and fruit juice (whether in sealed container or otherwise).

New entry ;- “Processed fruits and vegetables i.e. “Fruit, jams, jelly”, jelly, pickle, fruit squash, paste, fruit drink and fruit juice (whether in sealed container or otherwise).

3)      In item 9, the word “branded” shall be omitted;

Old entry reads as under ;-   “Roasted or fried grams and groundnuts, namkeens and branded snacks”

New entry;-  “Roasted or fried grams and groundnuts, namkeens and snacks”.

4)      In item 14, the sign and the words, “Vegetable Oil including gingili oil and bran oil” shall be omitted;

Old entry reads as under ;- Edible Oils, Vegetable Oil including gingili oil and bran oil;

New Entry ;-   Edible Oils.

5)      After item 23, the following items shall be inserted, namely:-

“24 Vanaspati (Hydrogenated Vegetable Oil) taxable      @ 6.25%

“25 Cigarette and Cigar taxable                                          @ 20.5%

C)     Amendment in Schedule D.

-          Serial No. 1 i.e. Cigarettes and Cigars, shall be omitted.

Effect on Cigarettes and Cigars – With regard to addition of above items specifically “Cigarette and Cigar” being added in Schedule E and deletion from Schedule D, it is to inform that the Item shall be taxable @ 20.5% plus 10% surcharge only at the first stage and no tax shall be charged at subsequent stages. 

D)    Amendment in Schedule B (goods taxable @ 5.5%)

-          At Serial No. 126 item i.e. Vegetable oil including gingili and bran oil is added.