Applicability of Rate of Tax

[Ganeshan Kalyani]

Dear Sir,

Kindly clarify the applicability of tax rate in the State of Punjab.

A bill was raised on 10.04.2012 by charging VAT. Due to some reason the payment was not done. And now, in December, 2014 we are paying the bill.

There was amended in the rate of VAT in the month of September, 2012.

Kindly clarify which rate is applicable.

regards,

ganeshan

[DR.MARIAPPAN GOVINDARAJAN]

I think that you would have got clarified in the above issue. If you got clarified please share with us.

AI Summary

Applicability of VAT rate when invoice issued before a rate amendment but payment made after the amendment. Applicability of VAT rate is queried where an invoice was raised before a rate amendment but payment was made after the amendment; the question is whether the rate at invoicing or the rate at payment applies, and no substantive resolution is provided in the record.