Section 9 in Punjab General Sales Tax (Deferment and Exemption) Rules, 1991
9. Return, Assessment etc.
(1)The unit holding deferment or exemption certificate shall continue to file the return in the manner specified under the Act and the rules made thereunder.(2)Notwithstanding anything contained in these rules, the unit holding deferment or exemption certificate issued under these rules, shall attach an attested copy of deferment or exemption certificate, as the case may be, in lieu of proof of payment of tax alongwith the return till the deferred or exempted amount of tax is fully availed of or the period of deferment or exemption expires under these rules, whichever is earlier.(3)The assessment of an eligible unit in respect of which deferment or exemption certificate has been granted shall be made in accordance with the provisions of the Act and the rules made thereunder as early as possible and shall be completed by the 31st day of December in respect of the assessment year immediately preceding thereto and the additional demand so determined, if any, shall be paid as per the provisions of the Act and the rules made thereunder.(4)Notwithstanding the provisions relating to payment of tax due according to returns, the unit in respect of which the benefit of deferment of payment of tax under the Act has been availed of shall make payment of the deferred amount of tax after the expiry of tax deferred every quarter or month, as the case may be, within the period specified in these rules.(4-A) [Added vided Punjab Government Gazette Legislative Supplement Part III dated 22.5.1997.] The amount of tax deferred and retained by a unit which commences production after the 1st day of Apil, 1996, shall be payable in three equal instalments after ten or seven years, as the case may be from the commencement of benefit as per their applicability :Provided further that an industrial unit with fixed investment not less than rupees hundred crores and which has commenced production after the 1st day of April, 1996, shall be entitled to select the block of seven or ten years within the first ten or the thirteen years of going into commercial production.(5)On cancellation of eligibility certificate or when the period of [deferment has expired, the entire amount of tax deferred or exempted] [Substituted for 'deferment or exemption certificate has expired, the amount of tax deferred or exempted' in sub-rule (5) of rule 9 by GSR. 63/P.A.46/48/Ss. 10A, 30 and 27/Amd (4)/93 dated 19.8.1993.] shall become payable immediately in lumpsum and the provisions relating to recovery of tax, interest and imposition of penalty under the Act shall be applicable in such cases.
