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Punjab Sales Tax on Services Act, 2012 QUESTION #2572
Question 1
Under section 49(2), for purposes of calculating default surcharge, the period of default is reckoned from which specific day?
  • The first day of the relevant tax period
  • The due date of the tax period
  • The sixteenth day following the due date of the tax period✔️
  • The date of issuance of show-cause notice
Correct Answer Explanation
Section 49(2) states that the period of default for calculation of default surcharge shall be reckoned from THE SIXTEENTH DAY FOLLOWING THE DUE DATE of the tax period to which the default relates, to the day preceding the date on which the tax due is actually paid.