Section 29(1) in The Punjab Value Added Tax Act, 2005
(1)Where a return has been filed under sub-section (1) or sub-section (2) of section 26 or in response to a notice under sub section (6) of section 26, if any tax or interest is found due on the basis of such return, after adjustment of any tax paid on self-assessment and any amount paid otherwise by way of tax or interest, then, without prejudice to the provisions of sub-section (2), an intimation shall be sent to the person specifying the sum so payable, and such intimation shall be deemed to be a notice of demand issued under sub-section (11) and all the provisions of this Act shall apply accordingly :Provided that except as otherwise provided in this sub-section, the acknowledgement of the return shall be deemed to be an intimation under this sub-section in case, either no sum is payable by the person or no refund is due to him:Provided further that no intimation under this sub-section shall be sent after the expiry of one year from the end of financial year in which the return is filed.
