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Punjab Sales Tax on Services Act, 2012 QUESTION #2560
Question 1
Under section 52(1), a notice for recovery of tax not levied or short-levied (for tax periods AFTER 1st July 2022) must be issued within:
  • Three years of the relevant tax period
  • Five years from the end of the financial year in which the relevant tax period falls✔️
  • Eight years of the relevant tax period
  • Ten years from the date of assessment
Correct Answer Explanation
Section 52(1) as amended by the Punjab Finance Act, 2022 provides that for periods after 1st July 2022, the show-cause notice must be issued within FIVE years from the end of the financial year in which the relevant tax period falls. The eight-year limit applies to periods before 1st July 2022.