31 January 2011
punjab vat act dear experts plz reply?? so far as i come to know that input.credit of vat on diesel purchase is only 8.8%?? is this provision is applicable now ?? is there any new notification in this regard ??? can we claim inpur of surcharge (10%) on vat ??
02 February 2011
Dear Sumit In a recent case decided by Hon'ble SC Petrol And Diesel being a specified item mentioned in Negative List u/s 13(5) of Punjab VAT Act. So its credit is not available under any circumstances. The general principle of law says in the case of general and express provision, the express should prevail