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Sunday, November 20, 2011

State Govt. has changed entry tax into Advance Tax in PVAT ACT.

Source of News: Business Bhaskar 17 Nov. 2011
Features of News:
1. State Govt. has changed entry tax into Advance Tax in PVAT ACT, because entry tax contributes good share in total treasure and a petition against entry Tax is pending in High Court.
2. This is clearly mentioned in act that if some firm complaints against it, than it has to deposit total calculated tax and 25% of penalty if any.
3. Acc. to news, There is reduction in entry tax upto 30% after the above petition against entry tax.

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