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The Punjab Sales Tax on Services Act 2012 Overview

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Questions and Answers

What is the main purpose of The Punjab Sales Tax on Services Act 2012?

To establish a new currency system in Punjab
To regulate the sale of goods in Punjab
To levy a tax on services in Punjab (correct)
To provide a tax exemption for services in Punjab

According to the Act, when does the Act come into effect?

When there is a change in the ruling party
When the Governor of Punjab signs it
When the federal government approves it
When the Government notifies it in the official Gazette (correct)

What is the extent of The Punjab Sales Tax on Services Act 2012?

It applies throughout the entire Punjab province (correct)
Only affects businesses but not individuals
Covers only rural areas in Punjab
Limited to a few cities in Punjab

Which body has the authority to specify the commencement date of The Punjab Sales Tax on Services Act 2012?

Punjab Revenue Authority (B) Signup and view all the answers

What is the proper citation for The Punjab Sales Tax on Services Act 2012 according to the text?

Punjab Sales Tax Act 2012 (B) Signup and view all the answers

What can the Government do in relation to specifying services for tax collection?

It can specify services from a date subsequent to the commencement of this Act. (C) Signup and view all the answers

How is an 'active taxpayer' defined?

A registered person who meets certain criteria regarding registration and tax return filings. (B) Signup and view all the answers

What does 'arrears' refer to?

The tax due and payable by a person that has not yet been paid. (B) Signup and view all the answers

Who is an 'Additional Commissioner'?

A person appointed as Additional Commissioner of the Authority. (C) Signup and view all the answers

How is an 'Assistant Commissioner' defined?

A person appointed as an Assistant Commissioner of the Authority. (C) Signup and view all the answers

In the context of 'associates', why are two persons considered associates?

Because one may reasonably be expected to act in accordance with the other's intentions. (A) Signup and view all the answers

When are two persons always treated as associates?

When one controls 50% or more of income or capital of an association alone. (A) Signup and view all the answers

How are individuals and their relatives considered in terms of 'associates'?

'Associates' if one is an individual and the other is a relative. (C) Signup and view all the answers

'Associates' always refer to:

'Associates' based on controlling rights to income or capital in an association. (B) Signup and view all the answers

'Associates' never refer to:

'Associates' being shareholders in different companies. (B) Signup and view all the answers

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