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School Non Salary Budget NSB and Deduction of Taxes PMIU and PESRP School Education Department Punjab

The Government of Punjab is committed to providing adequate Non Salary Budget NSB to schools as part of its effort to improve school quality and performance. Mechanism of School Non Salary Budget NSB was not fit for High and Higher secondary schools but now it is changed as Elementary and Primary schools. PMIU/ PESRP has developed need based School Non Salary Budget NSB for the districts of Punjab to achieve targets.

In this year 2017, Government of the Punjab has released funds in the form of School Non Salary Budget NSB but mostly Headmistress and Headmasters did not know how to utilize School Non Salary Budget NSB as per audit in future. I shall clarify here if there is any mistake from my end then you all can comment and if right then share this post.
School-Non-Salary-Budget-NSB-and-Deduction-of-Taxes-PMIU-and-PESRP-School-Education-Department-Punjab

For Example: Amount 20,000 for Tablet

Schools Head mistress and Headmasters have received 20000 in the from of Tablet. They do not purchase first and find tax payers for billing. They deduct 17% General Sales Tax GST as follows.

Total = Rs. 20000    17% GST= 2906   Remaining = Rs. 17094

Now Headmistress and Headmasters feel that it is right to purchase in 17094 which is totally wrong and faulty one. You should know that you have to pay 4.5% Income tax and 1/5 (One Fifth of GST).

One fifth of GST = Rs. 581                4.5% income Tax = Rs. 900

Total Remaining Fund = Rs. 15613

Actual Amount is 15613 to purchase a tablet. So it may audit objection for you all Headmistress and Headmasters that amount is 15613 and purchase of 17094 How?
Please clear all Headmistress and Headmasters with comments here on this post. It is difficulty for In-charge or Headmistress and Headmasters nowadays.

School Non Salary Budget NSB and Deduction of Taxes PMIU and PESRP School Education Department Punjab School Non Salary Budget NSB and Deduction of Taxes PMIU and PESRP School Education Department Punjab Reviewed by Muhammad Idrees on 7:35:00 AM Rating: 5

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