Punjab Finance Bill 2016

Punjab Finance Bill 2016

This Budget Brief 2016 contains amendments introduced through Punjab Finance Bill 2016 as it relates to the Punjab Sales Tax on Services Act, 2012; Stamp Act 1899; Punjab Urban Immovable Property Tax Act, 1958; and Punjab Infrastructure Development Cess Act, 2015 and introduction of one-time tax on imported motor cars.

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Punjab Finance Bill 2016

The provisions of the Punjab Finance Bill 2016 are generally applicable from 01 July 2016, unless otherwise specified.

This Memorandum contains the comments, which represent our interpretation of the legislation, and we recommend that while considering their application to any particular case, reference be made to the specific wordings of the relevant statutes.

The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. The KPMG name and logo are registered trademarks or trademarks of KPMG International.

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