https://www.taxtmi.com/article/detailed?id=1157 Purchase tax under the Punjab VAT Act 2005 is levied on Schedule H goods at scheduled rates and on the taxable turnover of purchases in specified circumstances. Section 19 applies a first purchase levy on listed goods (paddy, wheat, cotton, sugarcane, and certain milk purchases), permits input tax credit subject to use based conditions and proportionate apportionment, and restricts credit on interstate sales to the extent of Central Sales Tax. Section 20 imposes a turnover based purchase tax when taxable persons buy from unregistered suppliers, but is inapplicable where section 19 tax has been paid. en-us Sat, 26 Feb 2011 12:25:03 +0530 Sat, 26 Feb 2011 12:25:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1157 Purchase tax under the Punjab VAT Act 2005 is levied on Schedule H goods at scheduled rates and on the taxable turnover of purchases in specified circumstances. Section 19 applies a first purchase levy on listed goods (paddy, wheat, cotton, sugarcane, and certain milk purchases), permits input tax credit subject to use based conditions and proportionate apportionment, and restricts credit on interstate sales to the extent of Central Sales Tax. Section 20 imposes a turnover based purchase tax when taxable persons buy from unregistered suppliers, but is inapplicable where section 19 tax has been paid. Articles Value Added Tax - VAT and CST Sat, 26 Feb 2011 12:25:03 +0530 https://www.taxtmi.com/article/detailed?id=1157