Amendment status not verified — confirm the current text below against the official source.
The levy of tax under this section shall be made whether ihc works contract is executed fully or partly during a Year, or abandoned or terminated before completion, +B, Notwithstanding mylhing contained in section +, but subject to the other provisions of this Act, Hery dealer shall pay for each vear, a tax under this Act on his taxable turnover in respect or th e right to use any goods (whether OJ" not Ior a specified period) at tho rarc s specified by or under section t; applicable to rhe sales 01 the same goods, had they been sold otherwise than by the transfer of the right to use rhern Provided that if the transfer of the right to use any goods is made hy a dealer on more than one occasion in r, year !O the same or different party. the tax shall be leviable on each such occasion Explanation.- For the purposes of this Act, the transfer of the right to use any goods for any purpose (whether or not for a specified ,period) shall deemed to have taken place in Sikkim, if such goods <0 transferred ate in the State at the time of such transfer irrespective of the place where the agreement for the transfer of right to use the goods is made ." 4, In section I 3 of the pr incipal Act, after sub-section (4). the following sub- section shall be tnsertcd, namely ;- "(+a) If a registered dealer fails to pr0ve to the satisfaction of the pres- cribed authorttv, the correctness of the sale price of the goods transferred, delivered, supplied, sold or otherwise disposed of in allY of the manner referred to in clause (m) of section 2, the said authority may determine the said price according to the best of its judgemeut subject to such rules as may be prescri bed. " 3 Insertion ot ne« S. After section ,+ of the principal Act, the following section shall rection lfA. be inserted, namely D~duct1on of [ax "I+A. (I) Notwithstanding anything contained ill sectious 14 aDd at soure.frow IS, the Stare Government may prcsrlbe that every person or any specified uu. oj contrac- class of persons, making any payment to contractors as valuable consideration rers. for the transfer of property in goods. whether as goods or in some ether form, involved in the execution of works contracts, shall deduct such amount, as may be prescribed. not exceeding [our perccntum of the said payment. towards tax payable under this Act and remit the amounts so deducted to the State Government, Amend men [ oj section 28. (2) The manner in which the deduction under sub-section (I) shall he made, the period within which the amounts so deducted s~"1J be remitted to the State Government, the form in which the cerrrficatc of deduction should be issued to the contractors and other incidental and ancillary matters shall be such as may be prescribed. . (3) If a,ny person i';]ils to deduct. or having deducted. f~ils to remit to the State Government within the prescribed time, the amount dcduLti- ble under sub-section (I), he shall be liable for a penalty of a sum not excee- ding twice the amount deductible. (4) The amount deductible end actually deducted under sub section (I) and penaltv levied under sub-section (l) sha ll be deemed to be" tax for the purpose of the Sikklm (Collection of Tans and PreHnticn ol' Evasion ul' <:/7 Payment of Taxes) Act. '9~7, 1987