PUNJAB GOVT GAZ. (EXTRA.), NOV. 2. 2011 85
(KRTK 11, 1933 SAKA)
DEPARTMENT OF LEGAL AND LEGISLATIVE AFFAIRS, PUNJAB
PART I
Notification No. 40-Leg./2011.-The following Act of the Legislature of the State of Punjab received the assent of the Governor of Punjab on the 20th October, Z011, is hereby published for general information :-
The 2nd November, 2011
THE PUNJAB VALUE ADDED TAX (FOURTH AMENDMENT)
ACT, 2011
"(2) (Punjab Act No. 27 of 2011)
AN
further to amend the Punjab Value Added Tax Act, 2005.
ACT
BE it enacted by the Legislature of the State of Punjab in the Sixty-second Year of the Republic of India, as follows - person:
1. (1) This Act may be called the Punjab Value Added Tax (Fourth Amendment) Act, 2011.
(2) It shall come into force on and with effect from the date of its publication in the Official Gazette.
2. In the Punjab Value Added Tax Act, 2005 (hereinafter referred to as the principal Act), the existing provision of section 17 shall be numbered as sub-section (1) thereof and after sub-section () as so renumbered, the following sub-sections shall be inserted, namely :
Where any taxable goods are sold to a unit within the Special Economic Zone or to a developer or where any inter-unit transaction of goods within the Special Economic Zone is made, such sales shall be zero-rated. On such sale, no output tax is payable by any Provided that a taxable person making zero-rated sale shall be eligible for input tax credit in relation to such sale:
Provided further that the sale made to aforesaid unit or to a developer or an inter-unit transaction shall be zero-rated subject to production of certificate in such form as may be prescribed. Short title and
Commencenent.
Amendment of
section 17 of
Punjab Act 8
of 2005
PUNJAB GOVT GAZ. (EXTRA.). NOV. 2. 2011 85
(KRTK 1 , 193 SAKA)
PART 1
DEPARTMENT OF LEGAL AND LEGISLATIVE AF AIRS, PUNJAB
Notif cation
The 2nd November, 201
4 No. 40-Leg./2011.—The following Act of the Legislature of the State -
"of Punjab received the as ent of the Governor o f Punjab on the 20th October,
2011. is hereby published for general i formation :—
THE PUNJAB VALUE AD ED TAX ( URTH MENDMENT)
ACT, 2011
( unjab Act No. 27 of 2011) further to amend the unjab al e dded a ct, 05. e it act egislature the State of Punjab in the
Sixty-second ear epublic dia, as follows i— Short title and
commencement 1. (1) hi Act h unjab Value A dded Tax (Fourth
endment) ct, 1.
(2) 1t shall om n o with effect fro m the date of its
publication in th Offi ial Gazet e.
2. In the P V T Act, 20 05 (hereinafter referred to A m t of as the p n l Act) the existing provision of section 17 shall be nu mbered by Ses A J
as sub (/) the e and after sub-section (1) a
s so renumbered, the of 2005
fo low n su s shall be inserted, namely —
"(2) Where any taxable goods are sold to a un t w hin the Special
Economic Zone or to a dev o or w e any inter-unit transaction
of goods within the Special ic Zone is m such sales
! shal be zero On such sal
e, no output tax is payable by any person :
Provided that a taxable person m k ng z ero-rated sale shall
—— be eligible for input tax
credit in relation to such sale :
Provided further that the sale made to aforesaid unit or to
a developer or an inter-un t transaction sha l be zero-rated subject
to production of certificate in such form as may be prescribed
1
(3)
PUNJAB GOVT GAZ. (EXTRA.), NOV. 2, 2011 86
(KRTK 11, 1933 SAKA)
Where any unit referred to in sub-section (2) makes sales directly to a customer, the provisions of zero-rated sales specified in sub-section (2) shall not be applicable.
Explanation.--()) The expressions "unit" and "Special Economic Zone" shall have the same meaning as has been assigned to these
expressions in the Punjab Special Economic Zone Act, 2009 (Punjab Act No. 17 of 2009);
(ii) "developer means a person or a body of persons, including a company, a firm or a Government undertaking, which establishes, constructs, instals, operates, maintains or manages a part or whole of the infrastructure and other amenities in the Special Economic Zone.".
3. In the principal Act, in section 27, for the words *four per cent", wherever occurring the words "five per cent" shall be substituted.
GOBINDER SINGH,
Secretary to Government of Punjab, Department of Legal and Legislative Afairs. Amendment of
section 27 of
Punjab Act 8
of 2005
PUNJAB . E RA.), . 86
(KRTK 11, 1 )
(3) Where any unit referred to in sub-section (2) ma sales directly to a customer, the provisions of zero-rated sales specified in sub-section (2) shall li ble.
Explanation.— (i) The expr ssi ns " i " " ecial i " shall have the same meaning as been assigned o these
expressions in the Punjab Special i Act,
(Punjab Act o. o 009)
(ii) "developer" means a person or a body of persons, including a company, a firm or a Government undertaking, which establishes, constructs, installs, operates, maintains or manages a part or whole of the infrastructure and other amenities in the Special Economic ne."
3. In the principal Act, in section. 27, for the words "fo r per cent", wherever occurring the words "five per cent" shall be substituted.
I H,
Secretary to Government of Punjab, Department of Legal and Legislative Affairs. e
ion
j ct §