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Punjab Sales Tax on Services Act, 2012 QUESTION #2556
Question 1
Under section 16C of the Punjab Sales Tax on Services Act, 2012, a registered person shall NOT be allowed to adjust input tax in a tax period in excess of what percentage of the output tax for that tax period?
  • Seventy percent
  • Eighty percent
  • Ninety percent✔️
  • One hundred percent
Correct Answer Explanation
Section 16C(1) as amended provides that a registered person shall not be allowed to adjust input tax in a tax period in excess of ninety percent of the output tax for that tax period.