The PUNJAB VALUE ADDED TAX (AMENDMENT) Act, 2008 PART-II, SECTION 3, SUB-SECTION (i)

/ [TO BE PUBLlSIIEIl IN THE GAZETn: OF' INI)IA, EXTRAORDINARY, PART-II, SE9~ON3, SUB-SECTION (i) OF DATED "e;:''l2OO91 MINISTRY Of HOME AFFAIRS NOTIFICATION G.S.R. (E).- In exercise of!he PDwers oonfemd by section 87 ofthe Punjab ReorganiS3tion Act. 1966 (3t of 1966). the Cenual Government hereby exlends to the Union terTiiOf)' of Chandigarb. the Punjab Value Added Tax (Amendment) At... 2008 (Punjab Act No. 14 of -2008). as in force in the SUle ofPunjab on lilt dIlle ofpublicalion ofthis notification, subject to the following modifications, namely:- MODIFICATIONS I. In sub-section (/) ofsection 1, after the wordsand figure"the Punjab Value Added Tax Amendment Act, 2008", the words" lIS extended tothe Unionlerritory of Chandigarh" shall be inserted. 2. In :lection 2, after the words and figures .. the Punjab Value Added Tax Act. 2005 ", the words.. .. liS extended to the Union territory ofCh:rndigarh ~ shall be inscrted, 3. In sub-seclion (1) ofsec:tion S·A, which is directed to be inserted in the priocipal Act by Section 3, for the words, "'State Go\'emment". occurring at both the places. the word "Administrator" shall be substituted. Al\o'NEXURE THE PUNJAB VALUE ADDED TAX (AMENDMENT) Aer, 200S (PUNJAB ACT NO. 14OF 20(3) 1 (I) This Act may becalled the Punjab ValueAdded Tu Sllon lille .I>d (Amendment)Act. 200S. Coo.,l<nc"",,'1OI. (2) It shall come into force atonce. " 2. In l~ Punjab Value Added Ta.'t Act, 2005 (hereinaf\er ~r.:m:d 10 as AmenoJ"",,. .. the pnncipal Act). in JeCtion 2. In clause (:tg). in the Explanauon. aftcr KC'I"'" ! of P....J~ lI('m (7). u.., follo\.\inll itml sh311 be3ddcd. rwnely:- Act'of~ "(3) The amount recii\'ed or recciVllbk by oil compamcs for !he $ilk ofdiesel and petrot wit be dccmed 10 be equivalent 10 !he price. on ..hich tho: ret.all outlcu ....ill setl theseeommodillcs 10 the """"'""". J. In the principal Act. aftersection 3. !he following Sf:Clion sI\:lJl be I"Hfl_ of ....... inserted, nnmely:. secli"" ,.,.. i" Pu"jab At' S of 2003. "B-A. (I) Notwithstanding anything contained in any provision ofthis Act, the State Government, ifsatisfied that it is neoe:ssary or expedient KIlO do in public interest. INY. by notifICation in the OffICial Gatttte. direct thai in respect of any good5 or dilSS ofgoods • person may. al h" option, pay such lump-sum laX. subjcc:t 10 such conditions., 11$ the Stall: Government mayspecify in the DOtiflCllion. (2) Incase.a ptrSOn opu, for paymentoflump-sum tax, undersulHcction(I). be shall l'IOt. - (0) issue VAT invoice for sale of aoods mack by him, and fI() taxlIble penon, to whom goods llR: sold by such pe~n. shall be cOlitled to claim any input tax credit in respect ofsuch sale: and to • (b) be entitled claim lUI)' input tax credit and "pun:ha5e made by him. (3) The penon. ....'ho lias opted under sub-section (I) shall ~ at liberty 10 c:ancel his optioa by makin& an applic::ation 10 the designated otlica in such form., as INIYbe preKribed~. 4. In the principal ACI, in section 19, for sub-seclion (5). tile following "nwr.dmcn' in sub-section shall besubslilUlcd. namely:- ""'''011 I~ of """jib Act S of 200'. ~(5) Input w: credil, on the goods specified in schedule 'W or the products manufXUlm;! m..re from. ...."ben sold in the OOUIX of inter-Stale ~ Of oommercc. shall be .\'3iIl"3"b1e only to the exltnl ofCentral StIes TIJI. chargeable under Ccnual SalcsTax Act. 1956-. / , ). In the principal Act, in se<:lion 93. in sub-section (2). in clause (a), llmendment 'n ror the word and sign "as,so,ssmenl", the words and sign ""Clio<> qJ "f "r ·"assessment. deemed assessment:' shall be substitulecr. P.-jlb "CI S 2005. [F. No. U-1102012f1007 ---UTLJ • ArtUc","" "' (B. Bhamlithir!OZI<.1'1 Joinl Secn:lary 10 the Go'"Crnmenl ofIndia To ' 1be Manager, GovenuncntofIndia Press, Mayapuri, New Delhi I 1lI.lIIT.f.'L•..•(JI) ~ ~ ~ ~ ~ 1966 (1966 lIlT 31) lift URI 87 ~ II<:a ~ !Ill lI1lt'r ~ r<' <i;m '{<'INRI" ~ ('lhI'rIA) 3ll1lf.'WI. 2008 (2008 lIlT ~ 3Ilbf.nrq 'fl. I.) 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