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Punjab Sales Tax on Services Act, 2012 QUESTION #2565
Question 1
Under section 7(1) of the Act, what does the 'value of a taxable service' specifically EXCLUDE from the consideration received by the service provider?
  • Federal duties and taxes
  • Provincial duties and charges
  • The amount of the tax (Punjab Sales Tax on Services)✔️
  • Custom duties on inputs
Correct Answer Explanation
Section 7(1) defines value of a taxable service as the gross amount of consideration in money including all Federal and Provincial duties, taxes or charges, but specifically DOES NOT INCLUDE the amount of the tax (i.e., Punjab Sales Tax on Services itself).