Definition, Importance, and ULA Services
The Punjab Revenue Authority (PRA) is the provincial tax authority which is responsible & managing “Collecting Sales Tax on Services” under the Punjab Sales Tax on Services Act of 2012.
PRA registration is a legal requirement for any firm or individual providing taxable services in Punjab, services like consultants, hotels & restaurants, contractors (private, government or semi-government), transporters, rent-a-car services, beauty salons & parlors, software houses, and other service providers.
This registration provides the taxpayer “a unique PRA identification number”, which facilities service providers (as above mentioned) to file monthly returns and comply with provincial tax requirements.
Why PRA Registration Is Important/Needed
All organizations in Punjab that provide taxable services must register with the PRA. Businesses must register before they may legally operate, issue tax invoices, or request input adjustments.
Non-registration with PRA may result in fines, audits, and legal notices from the concerned authorities. Furthermore, registered service providers must submit PRA Sales Tax Returns every month, detailing their taxable services, output tax, input tax adjustments, and any type of applicable taxes.
Filing returns is essential for ensuring legal compliance and avoiding fines and penalties. It indirectly ensures accurate and honest financial reporting of services or business. PRA returns automatically helps to build trust with customers, banks, other financial insinuations and government entities.
Furthermore, the PRA monitors all kind of enterprises throughout the country. Unregistered or non-filing organizations frequently face serious consequences, such as property closure or fines.
How United Law Associates Assists with PRA Registration & Returns
At United Law Associates (ULA), we provide end-to-end support for PRA Registration and Monthly Return Filing. ULA’s experienced legal and tax team with 24/7 Hrs. services, make it possible that each step is handled professionally, legally and according to PRA laws.
Our services include:
ULA ensures that your organization is fully compliant, stays out of trouble, and operates efficiently. With over 15 years of experience, we offer trusted, precise, and quick tax solutions, allowing you to focus on your business while we handle all PRA-related tasks.
