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Validity of notice under punjab vat act

(Querist) 15 December 2012 This query is : Resolved 
Sir

I have got notice under Section 29 of Punjab VAT Act 2005 for the year 2008-09. Notice is dated 30/11/2012. Please tell me is this valid notice ? Isn't it time barred ?
ajay sethi (Expert) 15 December 2012
we cant advise you without going through the contents of notice
R.K Nanda (Expert) 15 December 2012
state full facts.
Raj Kumar Makkad (Expert) 15 December 2012
The notices u/s 29 of PVAT Act 2005 can be issued within 3 years from the last date for filling of Annual statement i.e VAT 20 of the year concerned or the date on which the return is actually filled whichever is later.

The last date for filling of VAT 20 Annual Statement under PVAT Act is 20th November every year. The last date for filling of VAT 20 for the year 2005-2006 was 20th November 2006. Hence the limitation period for assessment of the cases for the year 2005-2006 under PVAT Act 2005 has come to an end on 20th November 2009.
CA Sahi Singla (Querist) 17 December 2012
Mr. Raj Kumar

Sir, it is clearly mentioned u/s 29 that notice can be issued within 2 years from the year of concerned Financial year. So, the notice for the Year 2008-09 can be issued upto 31.03.2011.

3 Years time period is only for passing Assessment order u/s 29. And there is lot of difference between Issuing of Notice and passing Assessment year. Plz clarify.
Raj Kumar Makkad (Expert) 17 December 2012
I have already cleared in my reply that the limitation of 3 years is under section 29.


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