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Punjab govt hikes processing fee of VAT

VATJalandhar, Sept. 22, 2013 –

State government has hiked the processing fee of Value Added Tax (VAT) by bifurcating the VAT dealers in different categories.

In the notification issued by the department of excise and taxation, it is stated that from now on every taxable person, shall pay annual processing fee.

According to the notification, VAT dealers are divided into four categories and dealers, who have not filed returns during the financial year 2012-13 and dealers, whose gross turnover was nil, both will have to pay 1500 as processing fee.

In the third category of dealers, who have paid no tax and whose gross turnover is up to 1 crore will have to pay 1500, dealers with 1crore to 5 crore will have to pay processing fee 2500 followed by the processing fee of

3500 and 5000 by the dealers of having gross turnover of 5 crore to 10 crore and more than 10 crore respectively.

As per the notification, for all other dealers, processing fee of 800 is applicable. Instead of waiving the same, the government has multiplied the fee, which is highly deplorable, said leader of the joint action committee, Ravinder Dhir.

*HT Media Ltd.

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