Download P Vat Form Vat – 26

Download P VAT Form VAT – 26: Form Of Application for Allotment of Tax Deduction Account Number under Section 27 (3) Of the Punjab Value Added Tax Act, 2005

As per Punjab vat RULE 46.LIABILITY OF PERSONS IN CASE OF WORKS CONTRACT.

(1) A person entering into a contract with a contractor or a contractor entering into a contract with a sub-contractor for transfer of property in goods in execution of a works contract, shall furnish to the commissioner or the designated officer, particulars of such contract in Form VAT-25 within a period of thirty days from the date of entering into such contract.

(2) A person entering into a contract with a contractor or a contractor entering into a contract with a sub-contractor for transfer of property in goods for execution of a works contract, who is also liable for deduction of tax, shall within a period of thirty days of accruing his liability to deduct the tax, make an application, complete in all respects to the designated officer in Form VAT-26, for allotment of tax deduction number. The designated officer shall allot tax deduction number to the person concerned within a period of seven days from the receipt of the application.

(3) The tax deducted under the Act, shall be deposited by the person deducting the tax through a challan in Form “VAT-2” in the appropriate Government Treasury within a period of fifteen days from the close of each month.

(4). A monthly statement of the deposits made under sub-rule (3), shall be furnished by the persons concerned in Form “VAT-27” along with the proof of payment within a period of fifteen days after the date of deposit.

(5) The person deducting the tax, shall issue a certificate of such tax deduction at source in Form VAT – 28, which shall entitle the contractor to claim credit for such amount in the return.

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