Chandigarh August 13:Punjab Chief Minister Mr. Parkash Singh Badal today released a book on ‘Punjab VAT Act’ co-authored by Taxation & Business Consultants Vinod Vashisht and WC Vashisht here at Chief Minister’s Office.
Speaking on the occasion, Mr. Badal appreciated the concerted efforts of the authors in bringing out this book for the benefit of Tax Authorities, Legal & Account Professionals and Business & Industry. He said: "This book would surely prove to be a milestone in bringing much needed awareness amongst the tax payers and consultants to ensure a transparent tax system in the society". Mr. Badal emphasized the need to make the provisions of law which the citizens of society were expected to abide and control their day-to-day life and activities must be made easily accessible to them through such publications.
Briefing the Chief Minister, Mr. Vinod Vashisht said that this book featured section-wise commentary along with notifications and case laws. Contained in the book are VAT Rules, VAT Forms, Incentive Conditions for Industries, VAT in Chandigarh, Constitutional Provisions and Central Sales Tax Act. In its ‘Chronological Perspective’ chapter, author has given the transition of VAT from the earlier Sales Tax regime and advent of VAT in India and its implementation in Punjab with a historical perspective. This book offers some useful side information too such as how is the VAT environment in neighboring States of Punjab and levy provisions of other allied taxation acts applicable in Punjab.
The Chief Minister was accompanied by his Media Advisor Mr. Harcharan Bains and Principal Secretary DS Guru.