Amendment status not verified — confirm the current text below against the official source.
In the West Bengal Sales Tax Act, 1954,— (1) in section 8H,— (a) in sub-section (1),— (i) in clause (a),— (A) for the words "such area in West Bengal as may be prescribed,", the words "West Bengal," shall be substituted; (B) after the words "in respect of notified commodity", the words ", other than such notified commodity as may be prescribed," shall be inserted; (ii) in clause (b),— (A) for the words "such area in West Bengal as may be prescribed,", the words "West Bengal," shall be substituted; (B) after the words "in respect of notified commodity", the words ", other than such notified commodity as may be prescribed," shall be inserted; 90 The West Bengal Finance Act, 1993. V of 19931 (Section 4.) (iii) for the words "seven years,", the words "nine years," shall be substituted; (iv) for the -words "in different areas.", the words "in different areas as may be prescribed:" shall be substituted; (v) the f011owing provisos shall be added at the end:— "Provided that deferment of payment of tax payable by a dealer in respect of sales of notified commodities manufactured by him in any of the prescribed areas may be restricted to sales of such class or classes of notified commodities as may be prescribed: Provided further that the period prescribed under this sub-section and sub-section (2) may, subject to such restrictions and conditions as may be prescribed, be extended by two years in the cases of such industrial units as may be prescribed, where investment in fixed capital assets exceeds one hundred crore rupees."; (b) in sub-section (2), for the words "seven years", the words "nine years, or eleven years in the case of the industrial units referred to in the second proviso to sub-section (1)," shall be substituted; (c) in sub-section (3),— (i) for the words "ninety per centum", the words "one hundred per centum" shall be substituted; (ii) for the words "thirty-five crore", the words "fifty crore" shall be substituted; (d) after sub-section (3), the following sub-sections shall be inserted:— "(3a) A newly set up industrial unit or an existing industrial unit,— (a) where such newly set up industrial unit was established and commissioned by the dealer for manufacture of notified commodity in West Bengal for the first time on or after the 1st day of April, 1989, but not later than the 31st day of March, 1993, or (b) where such existing industrial unit was established before the 1st day of April, 1989, 91 The West Bengal Finance Act, 1993. [West Ben. Act (Section 4.) and has enjoyed, or has been entitled to enjoy, the benefit of deferment of payment of tax in accordance with the provisions of sub-section (2) and sub-section (3) as they stood before the coming into force of the West Bengal Finance Act, 1993, and shall continue to be so eligible in accordance with the said provisions. (3b) Subject to such conditions and restrictions as may be prescribed, a dealer who has enjoyed the benefit of deferment of payment of tax under this section may, in addition to such benefit as enjoyed by him, be eligible, if he so opts, for further deferment of payment of such amount of tax or aggregate of the amounts as may be equivalent of the capital investment subsidy receivable by him under any scheme approved by the State Government for such period, not exceeding four years from such date, as may be prescribed."; (e) in the Explanation,— (i) for the words "For the purposes of this section,", the words, figures and letter "For the purposes of this section and section 81," shall be substituted; (ii) in clause (i), for the figures "1989,", the figures "1993" shall be substituted; (iii) in clause (iii), after the word "capacity", the words, figures and letters "on or after the 1st day of April, 1993," shall be inserted; (iv) in clause (iv), for the words "fixed assets", the words "fixed capital assets" shall be substituted; (2) in section 81,— (a) in sub-section (1),— (i) for the word "new", wherever it occurs, the words "newly set up" shall be substituted and shall be deemed to have been substituted with effect from the 1st day of June, 1990; (ii) for the words "in such area in West Bengal as may be prescribed,", the words "in West Bengal," shall be substituted; (iii) for the words "as the State Government may, by notification published in the Official Gazette, specify,", the words "as may be prescribed," shall be substituted; 92 The West Bengal Finance Act, 1993. V of 1993.] (Section 4.) (iv) for the words "specified in such notification", the word "prescribed" shall be substituted; (v) for the words "ninety per centum", the words "one hundred per centum" shall be substituted; (vi) for the words "thirty-five crore", the words "fifty crore" shall be substituted; (vii) for the words "specified for", the words "prescribed for" shall be substituted; (viii) for the words "in different areas:", the words "in different areas as may be prescribed:" shall be substituted; (ix) in the proviso,— (A) for the words "specified limit", the words "prescribed limit" shall be substituted; (B) for the words "five years", the words "nine years" shall be substituted; (C) for the words "four years", the words "nine years" shall be substituted; (D) for the words "as may be specified in such notification,", the words "as may be prescribed," shall be substituted; (E) for the words "units may be specified", the words "units may be prescribed" shall be substituted; (x) after the existing proviso the following provisos shall be added:— "Provided further that a newly set up industrial unit or an existing industrial unit,— (a) where such newly set up industrial unit was established and commissioned by the dealer for manufacture of notified commodity in West Bengal for the first time on or after the 1st day of April, 1989, but not later than the 31st day of March, 1993, or (b) where such existing industrial unit was established before the 1st day of April, 1989, and has enjoyed, or has been entitled to enjoy, the benefit of remission of tax in accordance with the provisions of this sub-section and the first proviso to this sub-section as they stood before the coming into force of the West Bengal Finance Act, 1993, shall continue to enjoy such benefit in accordance with the said provisions: 93 The West Bengal Finance Act, 1993. [West Ben. Act (Section 4.) Provided also that remission of tax payable by a dealer in respect of notified commodities manufactured by him in any of the prescribed areas may be restricted to sales of such class or classes of notified commodities as may. be prescribed: Provided also that the period prescribed under the first proviso may, subject to such conditions and restrictions as may be prescribed, be extended by two years in the cases of such industrial units as may be prescribed where investment • in fixed capital assets exceeds one hundred crore rupees: Provided also that a dealer, who has enjoyed the benefit of remission of tax under this section, may, in addition to such benefit as enjoyed by him, and subject to such conditions and restrictions as may be prescribed be eligible, if he so opts, for further remission of such amount of tax or the aggregate of the amounts of tax as may be equivalent to the capital investment subsidy receivable by him under any scheme approved by the State Government for such period, not exceeding four years from such date, as may be prescribed."; (b) in sub-section (4), in clause (b), the words, figures and brackets beginning with "if the first" and ending with "Act, 1990," shall be omitted; (3) after section 81, the following sections shall be inserted:— "Deferment and