Punjab Sales Tax on Services (Determination of Minimum Tax Liability) Regulations, 2019

From: 2023-11-01 - To: 0000-00-00 PUNJAB REVENUE AUTHORITY GOVERNMENT OF THE PUNJAB 1st October, 2019 Notification The Punjab Sales Tax on Services (Determination of Minimum Tax Liability) Regulations, 2019 No. PRA/Order.06/2017.Vol(V)/1433.- In exercise of power conferred under section 24A of the Punjab Sales Tax on Services Act 2012 (XLIII of 2012), The Punjab Revenue Authority is pleased to make the following regulations: 1. Short Title and Commencement. - (1) These regulations may be cited as The Punjab Sales Tax on Services (Determination of Minimum Tax Liability) Regulations 2019. (2) They shall come into force at once. 2. Definition. - (1) In these regulations, a) Authority means The Punjab Revenue Authority established under The Punjab Revenue Authority Act, 2012. b) Act means The Punjab Sales Tax on Services Act 2012 (XLIII of 2012). c) Due Date in relation to furnishing of return means the 15th day of the month following the end of the tax period, or such other date as the Authority may, by notification in the official Gazette, specify. (2) The words and expressions used but not defined in here, shall have meanings assigned to them under the Act and rules made there under. 3. Application.- (1) If a registered person who fails to file a return, the minimum tax liability of the registered person shall not be less than the highest amount of tax paid by the registered person in any of the previous twelve months. (2) In case tax paid in the previous twelve months is nil, the minimum tax liability shall be calculated on the basis of monthly average of the sales declared by the registered person return of income filed under the Income Tax Ordinance, 2001 for the last tax year. (3) In case minimum tax liability cannot be determined in the manner given above, it shall be determined taking into account three or more of the following factors: a) Location of business; b) Type of business (composite or stand-alone); c) Nature and market value of services provided; d) Number of persons employed; e) Capital employed in the business; f) Amount of utility bills…