{ "schema_version": "qanun-law-text/1", "id": "punjab-code-b38f6d428d54661b", "title": "PUNJAB FINANCE ACT 2017", "source_collection": "Punjab", "content_kind": "stored_law_text", "content_extent": null, "source_url": "https://punjabcode.punjab.gov.pk/en/show_article/VWBUY1RjVmQ-", "version": null, "source_snapshot": "2026-08-06T16:55:40Z", "legal_status": "not independently verified", "text_quality": "Complete stored UTF-8 TXT file recovered byte-for-byte from owned Drive. Source transcription retained verbatim; legal completeness, OCR accuracy and current consolidation unverified.", "text_sha256": "41f2092c65b6aa5abc08fabaac26a3269153b8fde4d698248036ac52179d85bf", "source_sha256": "41f2092c65b6aa5abc08fabaac26a3269153b8fde4d698248036ac52179d85bf", "text_version_id": "law:punjab-code-b38f6d428d54661b:sha256:41f2092c65b6aa5abc08fabaac26a3269153b8fde4d698248036ac52179d85bf", "quality_flags": [], "encoding": "UTF-8", "text": "THE PUNJAB FINANCE ACT 2017 \r\n(XII of 2017) \r\nCONTENTS \r\n1. Short title, extent and commencement \r\n2. Amendments in Act II of 1899 \r\n3. Amendment in Act VI of 2010 \r\n4. Amendments in Act XLII of 2012 \r\n \r\nTEXT \r\n1\r\nTHE PUNJAB FINANCE ACT 2017 \r\n(XII of 2017) \r\n[16th June 2017] \r\nAn \r\nAct \r\nto abolish, rationalize and merge certain taxes and duties in the Punjab. \r\nIt is necessary in public interest to abolish, rationalize and merge certain taxes \r\nand duties in the Punjab; and, to deal with ancillary matters. \r\nBe it enacted by Provincial Assembly of the Punjab as follows: \r\n1. Short title, extent and commencement .– (1) This Act may be cited as the \r\nPunjab Finance Act 2017. \r\n (2) It extends to whole of the Punjab. \r\n (3) It shall come into force on the first day of July 2017. \r\n2. Amendments in Act II of 1899.– In the Stamp Act, 1899 (II of 1899): \r\n(1) In section 2, after clause (25), the following clause (26) shall be \r\ninserted: \r\n “(26) “urban area” means an area which is: \r\n(a) a rating area under the Punjab Urban Immovable \r\nProperty Tax Act, 1958 (V of 1958); \r\n(b) the area already declared as an urban area under the \r\nPunjab Finance Act, 2010 (VI of 2010); \r\n(c) any other area which the Board of Revenue may, by \r\nnotification, declare as an urban area; and \r\n(d) an area developed by a development authority, housing \r\nauthority, statutory body, cooperative housing society or \r\na real estate company or developer.”; and \r\n(2) In Schedule I: \r\n(a) in Article 2, in column 3, the following Note shall be in serted at \r\nthe end: \r\n“Note: In case of registration of the instrument, an additional \r\nstamp duty of Rs.25/- shall be charged.”; \r\n(b) in Article 3, in column 3, the following Note shall be inserted at \r\nthe end: \r\n \r\n1This Act was passed by the Provincial Assembly of the Punjab on 13 June 2017; assented to by the Governor of the Punjab on \r\n15 June 2017; and, was published in the Punjab Gazette (Extraordinary), dated: 16 June 2017, pp. 8235-8250. \r\n“Note: In case of registration of the instrument, a n additional \r\nstamp duty of Rs.10/- shall be charged.”; \r\n(c) in Article 5, in column 3, the following Note shall be inserted at \r\nthe end: \r\n“Note: In case of registration of the instrument, an additional \r\nstamp duty at the rate of 0.1% shall be charged.”; \r\n(d) in Article 6, in column 3, the following Note shall be inserted at \r\nthe end: \r\n“Note: In case of registration of the instrument, an additional \r\nstamp duty at the rate of 0.1% shall be charged.”; \r\n(e) in Article 15, in column 3, the following Note shall be inserte d at \r\nthe end: \r\n“Note: In case of registration of the instrument, an additional \r\nstamp duty of Rs.25/- shall be charged.”; \r\n(f) in Article 16, in column 3, the following Note shall be inserted at \r\nthe end: \r\n“Note: In case of registration of the instrument, an ad ditional \r\nstamp duty of Rs.25/- shall be charged.”; \r\n(g) in Article 18, for the existing entries in column 2 and column 3, \r\nthe following shall be substituted: \r\n“CERTIFICATE OF SALE \r\n(in respect of each property \r\nput up as a separate lot \r\nand sold) granted to the \r\npurchaser of any property \r\nsold by public auction by a \r\nCivil or Revenue Court, or \r\nCollector or other Revenue \r\nOfficer: \r\n \r\na) in case of \r\nimmovable property \r\nin an urban area; \r\nand \r\nFive percent of the \r\nvalue of the property. \r\nb) in any other case Three percent o f the \r\nvalue of the property. \r\n NOTE: In case of \r\nregistration of the \r\ninstrument, an \r\nadditional stamp duty \r\nshall be charged as \r\nunder: \r\n(a) Rs.500/ -, if the \r\namount of \r\nconsideration \r\ndoes not exceed \r\nRs.500,000/-; \r\nand \r\n(b) Rs. 1000/ -, if the \r\nconsideration \r\nexceeds \r\nRs.500,000/.”; \r\n(h) in Article 23, for the existing entries in column 2 and column 3, \r\nthe following shall be substituted: \r\n“CONVEYANCE as defined \r\nby section 2(10) not being a \r\nTRANSFER charged or \r\nexempted under Article 62: \r\n \r\n(a) In case of immovable \r\nproperty in an urban \r\narea; and \r\nFive percent of the value of \r\nproperty. \r\n \r\n(b) in any other case Three percent of the value of \r\nthe property. \r\nNote: In case of registration \r\nof the instrument, an \r\nadditional stamp duty shall \r\nbe charged as under: \r\n(a) Rs.500/-, if the amount of \r\nconsideration does not \r\nexceed Rs.500,000/ -; \r\nand \r\n(b) Rs.1000/-, if the amount \r\nof cons ideration exceeds \r\nRs.500,000/-. \r\n(c) in case of a \r\nregistered motor \r\nvehicle \r\none hundred rupees.”; \r\n(i) in Article 26, in column 3, the following Note shall be inserted at \r\nthe end: \r\n“Note: In case of registration of the instrument , an additional \r\nstamp duty of Rs.25/- shall be charged.” \r\n(j) in Article 27-A, for the existing entries in column 2 and column 3, \r\nthe following shall be substituted: \r\n“DECREE, RULE OF A \r\nCOURT OR AN ORDER \r\nOF A COURT based on \r\nmutual consent of the \r\nparties in cases involving \r\ntransfer of an immovable \r\nproperty including sale, \r\nexchange, gift or mortgage, \r\ndeclaring or conferring a \r\nright in, or title to, an \r\nimmovable property: \r\n \r\na) in case of \r\nimmovable property \r\nin an urban area; \r\nand \r\nFive perce nt of the \r\nvalue of the property. \r\nb) in any other case Three percent of the \r\nvalue of the property. \r\n NOTE: In case of \r\nregistration of the \r\ninstrument, an \r\nadditional stamp duty \r\nshall be charged as \r\nunder: \r\n(a) Rs.500/ -, if th e \r\namount of \r\nconsideration \r\ndoes not exceed \r\nRs.500,000/-; \r\nand \r\n(b) Rs. 1000/-, if the \r\nconsideration \r\nexceeds \r\nRs.500,000/-. \r\nEXPLANATION.- Value, in \r\nthis Article, means the \r\nvalue of the property in \r\naccordance with the \r\nvaluation table as notified \r\nby the Collec tor or where \r\nvaluation table is not \r\navailable, the average sale \r\nprice of a property of \r\nsimilar nature in the same \r\nrevenue estate or locality in \r\n \r\nthe preceding year as may \r\nbe determined by the \r\nCollector.”; \r\n(k) in Article 31, for the existing entries in col umn 2 and column 3, \r\nthe following shall be substituted: \r\nEXCHANGE of immovable \r\nproperty: \r\n \r\n \r\na) in case of \r\nimmovable property \r\nin an urban area; \r\nand \r\nFive percent of the \r\nhighest value of property \r\nplus two percent of the \r\nlowest value of the \r\nproperty; and \r\nb) in any other case Three percent of the \r\nhighest value of the \r\nproperty. \r\n NOTE: In case of \r\nregistration of the \r\ninstrument, an \r\nadditional stamp duty \r\nshall be charged as \r\nunder: \r\n(a) Rs.500/-, if the \r\namount of \r\nconsideration \r\ndoes not exceed \r\nRs.500,000/-; \r\nand \r\n(b) Rs. 1000/-, if the \r\nconsideration \r\nexceeds \r\nRs.500,000/.”; \r\n(l) in Article 32, in column 3, the following Note shall be inserted at \r\nthe end: \r\n“Note: In case of registration of the instrument, an additional \r\nstamp duty shall be charged as under: \r\n(a) Rs.500/-, if the amount of consideration does not \r\nexceed Rs.500,000/-; and \r\n(b) Rs.1000/-, if the amount of consideration exceeds \r\nRs.500,000/-.”; \r\n(m) in Article 33 , for the existing entries in column 2 and column 3, \r\nthe following shall be substituted: \r\nGIFT – Instrument of, \r\nincluding a memorandum \r\nof oral gift of an immovable \r\nproperty, not being a \r\nSETTLEMENT (Article 58) \r\nor WILL or TRANSFER \r\n(Article 62) – when \r\nexecuted in respect of an \r\nimmovable property: \r\na) in case of \r\nimmovable property \r\nin an urban area; \r\nand \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\nFive percent of the \r\nvalue of the property: \r\nprovided that if the gift \r\ndeed is executed \r\nbetween spouses, \r\nfather, mother, son, \r\ndaughter, grandparent, \r\nsibling or from one wife \r\nor widow to another wife \r\nor widow of the same \r\nhusband, the rate of \r\nstamp duty sha ll be \r\nthree percent of the \r\nvalue of the property. \r\nb) in any other case Three percent of the \r\nvalue of the property. \r\n Note: In case of \r\nregistration of the \r\ninstrument, an \r\nadditional stamp duty \r\nshall be charged as \r\nunder: \r\n(a) Rs.500/-, if the \r\namount of \r\nconsideration \r\ndoes not exceed \r\nRs.500,000/-; \r\nand \r\n(b) Rs.1000/-, if the \r\namount of \r\nconsideration \r\nexceeds \r\nRs.500,000/-.”; \r\n(n) in Article 34, in column 3, the following Note shall be inserted at \r\nthe end: \r\n“Note: In case of registration of the instrument, an additiona l \r\nstamp duty of Rs.25/- shall be charged.”; \r\n(o) in Article 35, for the existing entries in column 2 and column 3, \r\nthe following shall be substituted: \r\n“LEASE, including an \r\nunder lease or sub -lease \r\nand any agreement to let \r\nor sub-let: \r\n \r\n(1) where by such \r\nlease the rent is \r\nfixed and no \r\npremium is paid or \r\ndelivered: \r\n \r\n(a) where the \r\nlease purports \r\nto be for a term \r\nof less than \r\ntwenty years; \r\n3.25% of the av erage \r\nannual rent of the \r\nlease. \r\n(b) Where the \r\nlease purports \r\nto be for a term \r\nof twenty years: \r\n \r\n(i) in cas e of \r\nimmovable \r\nproperty in \r\nan urban \r\narea; and \r\n5.25% of the average \r\nannual rent of the \r\nlease. \r\n \r\n(ii) in any other \r\ncase \r\n3.25% of the average \r\nannual rent of the \r\nlease. \r\n(c) where the \r\nlease purports \r\nto be for a term \r\nin excess of \r\ntwenty years or \r\nin perpetuity: \r\n \r\n(i) in case of \r\nimmovable \r\nproperty in \r\nan urban \r\n5.25% of the \r\nconsideration equal to \r\nthe whole amount of \r\nrent which would be \r\narea; and paid or delivered in \r\nrespect of the first ten \r\nyears of the lease. \r\n(ii) in any other \r\ncase \r\n3.25% of the \r\nconsideration equ al to \r\nthe whole amount of \r\nrent which would be \r\npaid or delivered in \r\nrespect of the first ten \r\nyears of the lease. \r\n(d) where the \r\nlease does not \r\npurport to be \r\nfor any definite \r\nterm: \r\n \r\n(i) in case of \r\nimmovable \r\nproperty in \r\nan urban \r\narea; and \r\n5.25% of the \r\nconsideration equal to \r\nthe whole amount of \r\nthe rent which would \r\nbe paid or delivered in \r\nrespect of the first ten \r\nyears of the lease. \r\n(ii) in any other \r\ncase. \r\n3.25% of the \r\nconsideration equal to \r\nthe whole amount of \r\nrent which would be \r\npaid or delivered in \r\nrespect of the first ten \r\nyears of the lease. \r\n(2)(a) where the lease is \r\ngranted for money \r\nadvanced and where \r\nno rent is reserved: \r\n \r\n(i) in case of \r\nimmovable \r\nproperty in an \r\nurban area; and \r\n5.25% of the \r\nconsideration equal to \r\nthe amount of the \r\nadvance set forth in \r\nthe lease. \r\n(ii) in any other case 3.25% of the \r\nconsideration equal to \r\nthe amount of such \r\nadvance as set forth in \r\nthe lease. \r\n(b) where the lease is \r\ngranted for a fine or \r\npremium and where \r\nno rent is reserved: \r\n \r\n(i) in case of \r\nimmovable \r\nproperty in an \r\nurban area; and \r\n5.25% of the \r\nconsideration equal to \r\nthe amount of such \r\nfine or premium as set \r\nforth in the lease. \r\n(ii) in any other \r\ncase \r\n3.25% of the \r\nconsideration equal to \r\nthe amount of such \r\nfine or premium as set \r\nforth in the lease. \r\n(3)(a) where the lease is \r\ngranted for money \r\nadvanced in \r\naddition to the rent \r\nreserved: \r\n \r\n(i) in case of \r\nimmovable \r\nproperty in an \r\nurban area; and \r\n5.25% of the \r\nconsideration equal to \r\nthe amount of advance \r\nas set forth in the \r\nlease, in addition to the \r\nduty which would have \r\nbeen payable on such \r\nlease, if no advance \r\nhad been paid or \r\ndelivered: provided \r\nthat, in any case when \r\nan agreement to lease \r\nis stamped with the ad \r\nvalorem stamp \r\nrequired for a lease \r\nand a lease in \r\npursuance of such \r\nagreement is \r\nsubsequently \r\nexecuted, the duty on \r\nsuch lease sha ll not \r\nexceed one hundred \r\nrupees. \r\n(ii) in any other \r\ncase \r\n3.25 percent of the \r\nconsideration equal to \r\nthe amount of advance \r\nas set forth in the \r\nlease, in addition to the \r\nduty which would have \r\nbeen payable on such \r\nlease, if no advance \r\nhad been paid or \r\ndelivered: provided \r\nthat, in any case when \r\nan agreement to lease \r\nis stamped with the ad \r\nvalorem stamp \r\nrequired for a lease \r\nand a lease in \r\npursuance of such \r\nagreement is \r\nsubsequently \r\nexecuted, the duty on \r\nsuch lease shall not \r\nexceed one hundred \r\nrupees. \r\n(b) Where the lease is \r\ngranted for a fine \r\nor premium in \r\naddition to the rent \r\nreserved: \r\n(i) in case of \r\nimmovable \r\nproperty in an \r\nurban area; \r\nand \r\n \r\n \r\n \r\n \r\n5.25% of the \r\nconsideration equal to \r\nthe amount of such \r\nfine or premium as set \r\nforth in the lease, in \r\naddition to the duty \r\nwhich would have \r\nbeen payable on such \r\nlease, if no fine or \r\npremium had been \r\npaid or delivered: \r\nprovided that, in any \r\ncase when an \r\nagreement to lease is \r\nstamped with the ad \r\nvalorem stamp \r\nrequired for a lease \r\nand a lease in \r\npursuance of such \r\nagreement is \r\nsubsequently \r\nexecuted, the duty on \r\nsuch lease shall not \r\nexceed one hundred \r\nrupees. \r\n(ii) in any other \r\ncase \r\n3.25% of the \r\nconsideration equal to \r\nthe amount of such \r\nfine or premium as set \r\nforth in the lease in \r\naddition to the duty \r\nwhich would have \r\nbeen payable on such \r\nlease, if no fine or \r\npremium had been \r\npaid or delivered: \r\nprovided that, in any \r\ncase when an \r\nagreement to lease is \r\nstamped with the ad \r\nvalorem stamp \r\nrequired for a lease \r\nand a lease in \r\npursuance of such \r\nagreement is \r\nsubsequently \r\nexecuted, the duty on \r\nsuch leas e shall not \r\nexceed one hundred \r\nrupees. \r\nExemption \r\nLease, executed in the \r\ncase of a cultivator for \r\npurposes of cultivation \r\n(including a lease of trees \r\nfor the production of food \r\nor drink) without the \r\npayment or delivery of \r\nany fine or premium when \r\na defin ite term is \r\nexpressed and such term \r\ndoes not exceed one \r\nyear, or when the average \r\nannual rent reserved does \r\nnot exceed one hundred \r\nrupees.”; \r\n \r\n(p) in Article 40, in column 3: \r\n(i) at the end of clause (a), clause (b) and clause (c), the \r\nfollowing Note shall be inserted in each case: \r\n“Note: In case of registration of the instrument, an \r\nadditional stamp duty shall be charged as under: \r\n(a) Rs. 500/-, if the amount of consideration does no t \r\nexceed Rs.500,000/-; and \r\n(b) Rs.1000/-, if the amount of consideration exceeds \r\nRs.500,000/-“; \r\n(ii) in clause (d), for the existing entries , the following shall \r\nbe substituted: \r\n“(i) 0.45% of the loan amount subject to a \r\nmaximum of one hundred thousand rupees; \r\nand \r\n(ii) 0.45% of the loan amount.”; \r\n(q) in Article 45, in column 3, in clause (d), the following Note shall \r\nbe inserted before the sub-heading “Exception.-“: \r\n“Note: In case of registration of the instrument, an additional \r\nstamp duty shall be charged as under: \r\n(a) Rs. 500/-, if the amount of consideration does not \r\nexceed Rs. 500,000/-; and \r\n(b) Rs.1000/-, if the amount of consideration exceeds \r\nRs. 500,000/-.”; \r\n(r) in Article 46, in column 3, the following Note shall be inserted at \r\nthe end: \r\n“Note: In case of registration of the instrument, an additional \r\nstamp duty of Rs.25/- shall be charged.”; \r\n(s) in Article 48, in column 3: \r\n(i) against clause (a) , in column 2, the following Note shall \r\nbe inserted: \r\n“Note: In case of registration of the instrument, an \r\nadditional stamp duty of Rs.25/- shall be charged.”; \r\n(ii) against clause (b), in column 2 , the following Note shall \r\nbe inserted: \r\n“Note: In case of registration of the instrument, an \r\nadditional stamp duty shall be charged as under: \r\n(a) Rs. 500/-, if the amount of consideration does not \r\nexceed Rs. 500,000/-; and \r\n(b) Rs.1000/-, if the amount of consideration exceeds \r\nRs. 500,000/-.”; \r\n(iii) against clause (bb), in column 2 , the following Note shall \r\nbe inserted at the end: \r\n“Note: In case of registration of the instrument, an \r\nadditional stamp duty of Rs.25/- shall be charged.”; \r\n(t) In Article 54, in column 3, the following Note shall be inserted at \r\nthe end: \r\n“Note: in case of the registration of the instrument, an additional \r\nstamp duty shall be charged equal to the amount of the \r\nregistration fee paid on the principal mortgage deed.”; \r\n(u) in Article 55, for existing entries in column 2 and column 3, the \r\nfollowing shall be substituted: \r\n“RELEASE, that is to say any \r\ninstrument (not being such a \r\nrelease as is provided for by \r\nsection 23 -A) whereby a \r\nperson renounces a claim on \r\nanother person or against any \r\nspecified property. \r\n \r\n(i) in case of immovable \r\nproperty in an urban area; \r\nand \r\nFive percent of the \r\namount of the claim \r\nor value of the \r\nproperty. \r\n(ii) in any other case Three percent of the \r\namount of the claim \r\nor value of the \r\nproperty. \r\n Note: In case of \r\nregistration of the \r\ninstrument, an \r\nadditional stamp \r\nduty shall be \r\ncharged as under: \r\n(a) Rs.500/-, if the \r\namount of \r\nconsideration \r\ndoes not exceed \r\nRs. 500,000/ -; \r\nand \r\n(b) Rs.1000/- if the \r\namount \r\nconsideration \r\nexceeds \r\nRs. 500,000/-.”; \r\n(v) in Article 56, in column 3, the following Note shall be inserted at \r\nthe end: \r\n“Note: In case of registration of the instrument, an additional \r\nstamp duty of Rs.25/- shall be charged.”; \r\n(w) in Article 57, in column 3, the following Note shall be inserted at \r\nthe end: \r\n“Note: In case of registration of the instruments , an additional \r\nstamp duty of Rs.25/- shall be charged.”; \r\n(x) in Article 58, in column 3, the following Note shall be inserted: \r\n“Note: In case of registration of the instruments , an additional \r\nstamp duty shall be charged as under: \r\n(a) Rs. 500/-, if the amount of consideration does n ot \r\nexceed Rs. 500,000/-; and \r\n(b) Rs.1000/-, if the amount of consideration exceeds \r\nRs. 500,000/-.”; \r\n(y) in Article 61, in column 3, the following Note shall be inserted at \r\nthe end: \r\n“Note: An additional stamp duty at the rate of 5 /8th of the stamp \r\nduty which was paid on the original lease deed.”; \r\n(z) in Article 63, for the existing entries in column 2 and column 3, \r\nthe following shall be substituted: \r\n“TRANSFER OF LEASE by \r\nway of assignment and not \r\nby way of under-lease: \r\n \r\n(i) in case of immovable \r\nproperty in an urban \r\narea; and \r\nFive percent of the \r\namount of \r\nconsideration for the \r\ntransfer. \r\n(ii) in any other case. Three percent of \r\nthe amount of \r\nconsideration for the \r\ntransfer. \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\nNote: In case of \r\nregistration of the \r\ninstrument, an \r\nadditional stamp duty \r\nshall be charged as \r\nunder: \r\n(a) Rs. 500/ -, if the \r\namount of \r\nconsideration \r\ndoes not exceed \r\nRs.500,000/-; \r\nand \r\n(b) Rs.1000/ -, if the \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\namount of \r\nconsideration \r\nexceeds \r\nRs.500,000/-“. \r\nExemption: \r\nTransfer of any lease exempt \r\nfrom duty.; and \r\n(aa) in Article 63-A, for the existing entries in column 2 and column 3, \r\nthe following shall be substituted: \r\n“TRANSFER OF RIGHT OR \r\nINTEREST RELATING TO \r\nAN IMMOVABLE \r\nPROPERTY, that is to say , \r\ntransfer of a right or interest \r\nrelating to an immovable \r\nproperty or an \r\nacknowledgement of such \r\ntransfer, by a development \r\nauthority, housing authority, \r\nstatutory body, cooperative \r\nhousing society, company or a \r\ndeveloper and every \r\ninstrument by which a right or \r\ninterest relating to an \r\nimmovable property is being \r\ntransferred, registered, \r\nrecorded or acknowledged by \r\nthe authority, body, society, \r\ncompany or developer. \r\nExplanation.– Transfer of the \r\nright or interest under this \r\nArticle does not include original \r\nallotment from a development \r\nauthority, housing authority, \r\nstatutory body, cooperative \r\nhousing society or company \r\n \r\nand transfer through \r\ninheritance. \r\n(i) in case of immovable \r\nproperty in an urban \r\narea; and \r\nFive percent of the \r\nvalue of the property. \r\n(ii) in any other case Three percent of the \r\nvalue of the \r\nproperty.” \r\n3. Amendment in Act VI of 2010 .– In the Punjab Finance Act, 2010 (VI of \r\n2010), section 6 shall be omitted. \r\n4. Amendments in Act XLII of 2012 .– In the Punjab Sales Tax on Services Act \r\n2012 (XLII of 2012): \r\n(1) In section 2: \r\n(a) in clause (17), before the semi colon at the end, the following \r\nwords shall be inserted: \r\n“and different dates may be so specified for furnishing different \r\nparts or annexures of the return.”; and \r\n(b) in clause (30), for sub -clause (b) , the following shall be \r\nsubstituted: \r\n“(b) carries on an economic activity, wholly or partially, either \r\nthrough any other person such as an agent, associate, \r\nfranchise, branch, office, or otherwise in the Punjab or \r\nthrough virtual presence or a website or a web portal or \r\nthrough any other form of e -Commerce by whatever \r\nname called or treated.”; \r\n(2) After section 11, the following section 11A shall be inserted: \r\n“11A. Liability of a registered person .– Subject to the provisions of \r\nsubsection (1) of section 1 1, where a registered person receiving the \r\ntaxable service fails to make payment of the tax to a service provider \r\nwithin one hundred and eighty days from the date of the tax invoice \r\nand such service provider has also not made the payment thereof \r\nwithin the prescribed due date, the person providing and the person \r\nreceiving taxable service shall, jointly and severally, be liable for \r\npayment of such tax. \r\nExplanation I : The tax shall include the total amount of the tax and \r\nalso the tax as was liable to be withh eld or deducted by service \r\nrecipient as notified under section 14 of the Act. \r\nExplanation II: The registered person shall include a person covered \r\nby the “withholding agent” as notified under section 14 of the Act.”; \r\n(3) After section 14, the following section 14A shall be inserted: \r\n“14A. Special procedure for collection of tax , etc.– (1) \r\nNotwithstanding anything contained in this Act, the Authority may \r\nrequire any other person or class of persons, not necessarily being a \r\nservice provider or a service recip ient in a particular transaction, to \r\ncollect full or part of the tax charged from another person or class of \r\npersons on the provision of any taxable service or class of taxable \r\nservices and to deposit the tax so collected, in the Government \r\ntreasury within such time and in such manner as the Authority may, by \r\nnotification in the official Gazette, specify. \r\n(2) For purposes of subsection (1), the special procedure \r\nprescribed for collection and payment of tax may also provide for \r\nregistration, book keeping, in voicing or billing requirements, returns \r\nand other related matters in respect of any service or class of services, \r\nas may be specified. \r\n(3) Where a person or class of persons is required to collect \r\nfull or part of the tax on the provision of any taxable s ervice or class of \r\ntaxable services and either fails to collect the tax or having collected \r\nthe tax, fails to deposit the tax in the Government treasury, such \r\nperson or class of persons shall be personally liable to pay the amount \r\nof tax to the Government in the prescribed manner.”; \r\n(4) In section 16: \r\n(a) for subsection (2), the following shall be substituted: \r\n“(2) Subject to provisions of section 16A or section \r\n16B or to such conditions and restrictions as may be prescribed, \r\nthe Authority may allow a registered person to claim adjustment, \r\ndeduction, or refund in respect of the tax paid or payable under \r\nany other law in for any taxable service or goods or class of \r\ntaxable service or goods used in connection with the provision \r\nof a taxable service by such pe rson, on his furnishing a tax \r\ninvoice or declaration of import of goods in his name which \r\nbears his National Tax Number.”; \r\n(b) for subsection (4), the following shall be substituted: \r\n“(4) Notwithstanding anything contained in this Act or \r\nthe rules made the reunder, the Authority, with the approval of \r\nthe Government, may, by notification in the official Gazette and \r\nsubject to such conditions, limitations or restrictions as may be \r\nspecified therein, allow a registered person or class of persons \r\nto deduct such amount of input tax from the output tax as may \r\nbe specified in the notification.”; \r\n(c) after subsection (4), the following subsection (5) shall be \r\ninserted: \r\n“(5) For purposes of subsection (1) or subsection (2), \r\nthe amount of tax to be deducted or adjusted shall not include \r\nany amount of additional tax, further tax, extra tax, default \r\nsurcharge, fine, penalty or fee imposed or charged under this \r\nAct or any other law.”; \r\n(5) After section 16B, the following section 16C shall be inserted: \r\n“16C. Adjustment of i nput tax paid on certain goods and \r\nservices.- Notwithstanding anything contained in this Act, the input tax \r\npaid on acquisition of such of the capital goods, machinery and fixed \r\nassets as are classified under section XVI, Chapters 84 and 85 of the \r\nFirst S chedule of the Customs Act, 1969 (IV of 1969) shall be \r\nadjustable against the output tax in twelve equal monthly instalments.”; \r\n(6) In section 24, in subsection (2), for the word “five”, the wo rd “eight” \r\nshall be substituted; \r\n(7) In section 39: \r\n(a) in subsection (1), after clause (f), the following clauses (ff) and \r\n(fff) shall be inserted: \r\n“(ff) Risk Compliance Officer of the Authority; \r\n(fff) Enforcement Officer of the Authority;”; and \r\n(b) for subsection (4), the following shall be substituted: \r\n“(4) Risk C ompliance Officers, Enforcement Officers, \r\nAudit Officers, Inspectors and other officers of equal or lower \r\ndesignations, if any, shall be subordinate to the Deputy \r\nCommissioner or, as the case may be, to the Assistant \r\nCommissioner or as the Authority ma y, f rom time to time, \r\nspecify.”; \r\n(8) in section 48, in the Table: \r\n(a) in serial No.10: \r\n(i) in column 3, for the expression “twenty five thousand”, \r\nthe expression “one hundred thousand” shall be \r\nsubstituted; and \r\n(ii) in column 4, for the words “General and sec tion 59”, the \r\nwords “General and section 59 and section 70” shall be \r\nsubstituted; \r\n(9) in section 70, in subsection (1): \r\n(a) after clause (b), the following clause (bb) shall be inserted: \r\n“(bb) require by a notice in writing payment of money owed to \r\na taxp ayer by any person on account of legally enforceable \r\nrelations created between the taxpayer and the other person \r\nincluding but not limited to purchase contracts, contracts with \r\ncredit or financial institutions or with banking companies, lease \r\ncontracts, lo an agreements, building loan contracts, life \r\ninsurance contracts, employment or work contracts.”; and \r\n(b) in clause (f), for the full stop at the end, a colon shall be \r\nsubstituted and thereafter the following proviso shall be added: \r\n“Provided that no acti on shall be taken against the \r\nperson during the pendency of the appeal, if any, under section \r\n63 of the Act if he deposits at least twenty five per cent the \r\namount of the tax demanded from him.”; \r\n(10) After section 76, the following section 76A shall be inserted: \r\n“76A. Power to restrain certain authorities .– The Authority may, \r\nwith the approval of the Government and by notification in the official \r\nGazette, require that any authority competent to issue or renew a \r\nlicense or to grant permission to any person to engage in an economic \r\nactivity which is a taxable service, shall not issue or renew such \r\nlicense or grant permission unless the licensee or the grantee \r\nfurnishes the evidence that he is a duly registered person under \r\nsection 25, section 26 or section 27 of the Act.”; \r\n(11) In section 78, in subsection (7), after the word “requisition s”, the words \r\n“including notices and show cause notices” shall be inserted; \r\n(12) In section 84, after subsection (1), the following explanation shall be \r\nadded: \r\n“Explanation.– The expression “act or thing to be done” includes an \r\nact or thing to be done by a registered person or by an authority \r\nspecified in section 39 of the Act.”; \r\n(13) In Second Schedule: \r\n(i) in serial No.6, in column (2): \r\n(a) after the existing clause (y), th e following clause (z) shall \r\nbe inserted: \r\n“(z)(i) internet services, whether dialup or broadband, \r\nincluding email services, data communication \r\nnetwork services (DCNS) and value added data \r\nservices; \r\n (ii) such charges payable on the international leased \r\nlines or bandwidth services used by: \r\n(a) software exporting firms registered with \r\nPakistan Software Export Board; and \r\n(b) data and internet service providers licensed \r\nby the Pakistan Telecommunication Authority; \r\nand \r\n (iii) such charges payable on the international le ased \r\nlines used by the software exporting firms \r\nregistered with Pakistan Software Export Board \r\nfor software exports.”; and \r\n(b) under the sub -heading “EXCLUDING”, for the existing \r\nclauses, the following shall be substituted: \r\n“internet services, whether di alup or broadband including \r\nemail services, data communication network services \r\n(DCNS) and value added data services when the \r\ncharges do not exceed Rs.1500/ - per month per \r\nstudent.”; \r\n(ii) in serial No.14: \r\n(a) under the sub -heading “EXCLUDING:”, after claus e (iii), \r\nthe following Explanation shall be inserted: \r\n“Explanation- Notwithstanding the rate of 5% fixed in \r\ncolumn 4, the following further reduced rates shall be \r\napplicable: \r\n(a) one per cent for all services specified at S .No.14 \r\nwithout input tax credit o r adjustment to the extent \r\nof Government civil works including those of \r\ncantonment boards involved in the ongoing \r\ndevelopment schemes and projects launched \r\nduring Financial Year 2016 -17 and funded under \r\nthe Annual Development Plan of the Punjab \r\nGovernment or funded through foreign loans \r\nwhere the negotiations were finalized after 1 st of \r\nJuly 2016 or funded under Public Sector \r\nDevelopment Program of the Federal Government \r\nor funded by the Cantonment Boards; and \r\n(b) zero per cent for all services specified at S.No.14 \r\nwithout input tax credit/adjustment to the extent of \r\nGovernment civil works including those of \r\ncantonment boards involved in the ongoing \r\ndevelopment schemes and projects launched prior \r\nto Financial Year 2016 -17 and funded under the \r\nAnnual Developm ent Plan of the Punjab \r\nGovernment or funded through foreign loans \r\nwhere the negotiations were finalized as on 1 st of \r\nJuly 2016 or funded under Public Sector \r\nDevelopment Program of the Federal Government \r\nor funded by Cantonment Boards.”; \r\n(b) in column 4, fo r the words “sixteen percent”, the words \r\n“five percent without input tax credit/adjustment” shall be \r\nsubstituted; and \r\n(iii) in serial No.16, in column 2, under the sub -heading \r\n“EXCLUDING:”, clause (i) shall be omitted.", "passage_offset_convention": "zero-based Unicode code points and UTF8 bytes; end exclusive", "passages": [ { "passage_id": 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