VAT on milk and wheat reduced in certain cases under Punjab VAT

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....AT on milk and wheat reduced in certain cases under Punjab VAT<br>By: - AMIT BAJAJ ADVOCATE<br>Value Added Tax - VAT and CST<br>Dated:- 4-2-2014<br><br>Punjab Government has reduced VAT on milk when purchased for manufacturing taxable goods and on wheat when purchased for processing, from 6.05 percent to 3.3 percent (after adding surcharge of 10 percent ). Wheat not to be used for processing purpo....

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....se will continue to attract VAT at the rate of 6.05 percent . Relevant notification is produced herebelow: PUNJAB GOVT. GAZ. (EXTRA), JANUARY 29, 2014 195 (MAGHA 9, 1935 SAKA) GOVERNMENT OF PUNJAB DEPARTMENT OF EXCISE AND TAXATION (EXCISE AND TAXATION II BRANCH) NOTIFICATION The 25th January, 2014 No. S.O. 11/P.A. 8/2005/S.8/2014.- Whereas the State Government is satisfied that circums....

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....tances exist, which render it necessary to take immediate action in public interest; Now, therefore, in exercise of the powers conferred by sub-section (3) of section 8 of the Punjab Value Added Tax Act, 2005 (Punjab Act No. 8 of 2005), and all other powers enabling him in this behalf, the Governor of Punjab is pleased to make the following amendment in Schedule 'D' and Schedule 'E', appended to ....

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....the said Act, with effect from the first day of February, 2014, by dispensing with the condition of previous notice, namely:- AMENDMENT 1. In said Schedule 'D', the following entry shall be added, namely:-"1 Cigarettes and Cigars" 2. In said Schedule 'E', entry at Serial . No. 13 shall be omitted. "23 Milk, when purchased for manufacture of taxable goods 3 percent 24 Wheat, when purchased....

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.... for processing" 3 percent D. P. REDDY, Financial Commissioner Taxation and Secretary to Government of Punjab, Department of Excise and Taxation.<br> Scholarly articles for knowledge sharing by authors, experts, professionals ....