https://www.taxtmi.com/article/detailed?id=5423 The department required subsequent dealers to declare stock held on the day before the single stage regime commenced and to continue paying tax on that stock under the Punjab VAT Act until it is sold or disposed; goods bought at subsequent stages on or after commencement are tax free at those stages. The clarification prescribes invoice text identifying notified goods as taxed at the manufacturer/first importer stage with no input tax credit for subsequent dealers, suggests that tax on declared stock will be at the pre-change rate with input credit available, and limits single stage coverage to goods expressly listed in the notification. en-us Tue, 07 Jan 2014 07:10:27 +0530 Tue, 07 Jan 2014 07:10:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=5423 The department required subsequent dealers to declare stock held on the day before the single stage regime commenced and to continue paying tax on that stock under the Punjab VAT Act until it is sold or disposed; goods bought at subsequent stages on or after commencement are tax free at those stages. The clarification prescribes invoice text identifying notified goods as taxed at the manufacturer/first importer stage with no input tax credit for subsequent dealers, suggests that tax on declared stock will be at the pre-change rate with input credit available, and limits single stage coverage to goods expressly listed in the notification. Articles Value Added Tax - VAT and CST Tue, 07 Jan 2014 07:10:27 +0530 https://www.taxtmi.com/article/detailed?id=5423