PUNJAB VAT

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

03 July 2011 WHEN A PERSON PURCHASES GOODS FROM OUTSIDE PUNJAB STATE AND HAS BEEN CHARGED CST ON THE SAME, DOES HE BECOMES LIABLE TO GET HIMSELF REGISTERED UNDER THE PUNJAB VAT.

ALSO IF HE HAS FAILED SO TO DO WHAT ARE THE CONSEQUENCES UNDER PVAT.

REGARDS

MINKU GARG

MJ Krishnamurthy

MJ Krishnamurthy (Expert)
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04 July 2011 Mr Author ,
Under all the VAT laws,any dealer who makes purchase of taxable goods from ouside the State is liable to be registered under the respective VAT Act.If one has failed to do so,the VAT authorities can verify your records,either by inspection or by notice,estimate such T.O. and levy tax,penalty and interest thereon.
MJK