ACT I OF 2008
27th June, 2008
An Act to levy tax
and alter the rates of tax and duties in the Punjab.
Preamble.– Whereas it is expedient to levy tax and alter the rates of tax and duties in the Punjab and connected matters.
It is hereby enacted as follows:-
1. Short title, extent and commencement.– (1) This Act may be cited as the Punjab Finance Act 2008.
(2) It shall extend to the whole of the Punjab.
(3) It shall come into force on the first day of July 2008.
2. Government.– In this Act, Government means the Government of the Punjab.
3. Amendment in Act II of 1899.– In the Stamp Act, 1899 (II of 1899), in the Schedule I, the following amendments shall be made:-
(1) after Article 27, the following Article 27-A shall be inserted:
“27-A. DECREE, RULE OF A COURT OR AN ORDER OF A COURT based on mutual consent of parties in cases involving transfer of an immovable property including sale, exchange, gift or mortgage, declaring or conferring a right in or title to an immovable property. Two percent of the value of the property.”;
EXPLANATION.– Value, in this Article, means value of the property in accordance with the valuation table as notified by the Collector or where valuation table is not available, the average sale price of a property of similar nature in the same revenue estate or locality in the preceding year as may be determined by the Collector.
(2) after Article 63, the following Article 63-A shall be inserted:
“63-A. TRANSFER OF RIGHT OR INTEREST RELATING TO AN IMMOVABLE PROPERTY, that is to say, transfer of a right or interest relating to an immovable property or an acknowledgement of such transfer, by a development authority, housing authority, statutory body, cooperative housing society, company or a developer and every instrument by which a right or interest relating to an immovable property is being transferred, registered, recorded or acknowledged by the authority, body, society, company or developer. Two percent of the value of the property.”
EXPLANATION.– Transfer of the right or interest under this Article includes transfer of such a right or interest from one person to another person.
4. Amendment in Act X of 1958.– In the Punjab Entertainments Duty Act, 1958 (X of 1958), in section 3-A, at serial No.2, in column No.3, under the heading “Rate of duty” the words, “fifty percent of the payment for admission” shall be substituted by the words “two hundred percent of the payment for admission or two hundred rupees per admission ticket, whichever is higher”.
5. Amendment in the Ordinance II of 2000.– In the Punjab Sales Tax Ordinance, 2000 (II of 2000), in section 3, in sub section (1), the words “fifteen percent” shall be substituted by the words “sixteen percent”.
6. Tax on imported luxury motor cars.– (1) Subject to this section, the Government shall levy a one time tax on an imported motor car of a specified category registered in the Punjab after 30th June, 2005.
(2) The categories of the imported motor cars and rates of the tax shall be such as provided in the Schedule.
(3) The Government shall not levy the tax, if the motor car is–
(a) owned by the Federal Government or the Government;
(b) a transport vehicle or a motor vehicle with seating capacity exceeding ten;
(c) exempt from taxation under the Punjab Motor Vehicles Taxation Rules, 1959; and
(d) a motor vehicle or class of motor vehicles notified by the Government.
(4) An owner, occupant or keeper of the motor car shall be liable to pay the tax.
(5) An owner, occupant or keeper of the motor car shall, within the prescribed period, submit a statement to the officer authorized by the Government and in the prescribed manner which shall contain–
(a) the engine capacity of the motor car;
(b) the date of registration of the motor car;
(c) the amount of tax leviable on the motor car;
(d) the proof of payment of the tax; and
(e) any other information as may be prescribed.
(6) If an owner, occupant or keeper fails to submit the statement within the prescribed time or fails to pay the tax despite an order passed by the authorized officer, the owner, occupant or keeper shall be liable to pay, in addition to the tax, a penalty not exceeding the amount of the tax, as may be determined by an officer authorized by the Government.
(7) The tax shall be assessed, collected and recovered in the prescribed manner.
(8) The Government may, within one year, revise an order passed or proceedings conducted under this section and the order of the Government shall be final.
(9) A person shall not challenge any order passed or proceedings being conducted under this section before any court or forum except as provided under this section and no suit, application or petition shall lie to any court against an order or proceedings under this section.
(10) In addition to any other mode for recovery of the tax or penalty levied under this section, it may be recovered as arrears of land revenue under the Punjab Land Revenue Act, 1967 (XVII of 1967).
(11) The Government may, by notification in official gazette, make rules for carrying out the purposes of this section.
(12) In this section–
(a) “motor car” means a motor car as defined in the Provincial Motor Vehicles Ordinance, 1965 (XIX of 1965) and includes a station wagon and jeep;
(b) “prescribed” means prescribed by the rules made under the section;
(c) “Schedule” means the Schedule appended to this Act; and
(d) “tax” means the tax levied under the section.
[see section 6 (2)]
Sr. No. Category of motor car Rate of Tax
1. Imported motor car with engine capacity from 2000 cc to 3000 cc. Rs.200,000/-
2. Imported motor car with engine capacity exceeding 3000 cc. Rs.300,000/-