AMENDMENTS IN THE SECOND SCHEDULE OF PUNJAB SALES TAX ON SERVICES ACT, 2012.

Punjab Revenue Authority vide its notification No. SO (TAX) 1-1/2013-14 dated 12.02.2014 has made the following amendments in the Second Schedule of the Punjab Sales Tax on Services Act, 2012 (Taxable Services):

1. Services of Construction are liable to standard rate of sales tax (i.e. 16% of the value of services) instead of reduced rate of sales tax.
2. Services provided by property developers are now liable to reduce rate of sales tax instead of standard rate of tax i.e. 16%. Reduced rate for these services is as under:

i) at the rate of Rs.100 per square yard for land development and;

ii) Rs.50 per square feet for building construction