Amendment status not verified — confirm the current text below against the official source.
23 The West Bengal Finance Act, 1995. [West Ben. Act (Section 9.) (j) fifteen per centum of such part of his taxable turn- over of sales as represents sales referred to in sub- clause (c) of clause (30) of section 2 of video cassete tapes: Provided that the provisions of clause (a) shall not apply to any sale referred to therein unless the dealer selling the goods furnishes in the prescribed manner a declaration containing prescribed particulars in the prescribed form obtainable in such manner and subject to such conditions and restrictions as may be prescribed, from the prescribed authority, duly filled up and signed by the registered dealer to whom the goods are sold: Provided further that the provisions of clause (b), clause (c), clause (d) and clause (e) shall not apply to any sale referred to therein unless the dealer selling the goods furnishes in the prescribed manner a declaration containing prescribed particulars in the prescribed form, obtainable in such manner and subject to such conditions and restrictions as may be prescribed, from the prescribed authority, duly filled up and signed by the registered dealer to whom, or by the owner or representative of the undertaking to which, the goods are sold: Provided also that notwithstanding the rate of tax fixed in clause (i), the tax payable by a dealer shall be levied at the rate of two per centum of such part of his taxable turnover of sales as represents sales of any goods specified in the notification issued under clause (i), where he proves to the satisfaction of the Commissioner that such goods have been purchased by him in West Bengal, on or after the date on which such goods are specified, from a registered dealer and furnishes in the prescribed manner a declaration containing prescribed particulars in the prescribed form, obtainable in such manner and subject to such conditions and restrictions as may be prescribed, from the-prescribed authority, duly filled up and signed by the registered dealer from whom such goods are purchased. 24 The West Bengal Finance Act, 1995. III of 1995.] (Section 9.) 74 of 1956. Explanation.—In this sub-section,— (a) "gold" means gold of a fineness not below ninety per centum; (b) "taxable goods" means goods other than goods sales of which are tax-free under section 24.'; (c) in sub-section (3), in clause (a),— (i) for sub-clause (vi), the following sub-clause shall be substituted:— "(vi) sales of any item of iron and steel falling within a category specified in a sub- clause of clause (iv) of section 14 of the Central Sales Tax Act, 1956, where the selling dealer proves to the satisfaction of the Commissioner that the item of iron and steel sold by him belongs to the same category as specified in that sub-clause of clause (iv) of that section and the same has been purchased for resale by him from a registered dealer who has not claimed deduction under sub-clause (viii) of clause (a) of this sub-section in respect of prior sales of such item of iron and steel;"; (ii) in sub-clause (vii), for the word and figure "SCHEDULE V", the word and figures "Schedule VI" shall be substituted; (5) in section 18, in sub-section (1), for the word "twenty", the word "twenty-five" shall be substituted; (6) in section 19, in sub-section (1), after the words "gross turnover of sales", the words and figures "of goods, other than those specified in Schedule IV," shall be inserted; (7) in section 21, in sub-section (1), for the word "ten", the word "twelve" shall be substituted; (8) for section 22, the following section shall be substituted:— 'Set off of tax 22. (1) Subject to the other provisions payable against of this section, there shall be a set off of the sales of iron and steel manufactured amount of tax realised from a registered in West Bengal. dealer (hereinafter referred to as re-roller) in respect of his purchases of iron and steel referred to in clause (iv) of section 14 of the Central Sales Tax Act, 1956, against the amount of tax payable by him under this Act on sales of iron and steel referred to in clause (iv) of that section manufactured by him in West Bengal. 25 The West Bengal Finance Act, 1995. [West Ben. Act (Section 9.) (2) Where a re-roller has made purchases of an item of iron and steel falling within a category specified in a sub- clause of clause (iv) of section 14 of the Central Sales Tax 74 of 1956. Act, 1956, and the amount of tax in respect of such purchases has been realised from him by a registered dealer selling such item of iron and steel, and where such re-roller uses directly the above item of iron and steel so purchased in the manufacture or re-rolling of another item of iron and steel falling in another category as specified in any other sub- clause of clause (iv) of that section, the re-roller may set off the amount of tax so realised from him against the amount of tax payable by him under this Act on sales of the item of iron and steel manufactured by him: Provided that where the re-roller makes a sale of the item of iron and steel manufactured by him to a registered dealer for use by such dealer in the manufacture of any goods other than iron and steel referred to in clause (iv) of that section, the claim for set off of the amount of tax realised from the re-roller in respect of his purchases shall not exceed the amount of tax payable by the re-roller under this Act on his sales of the item of iron and steel manufactured by him. (3) A re-roller who intends to claim set off under sub- section (1) shall maintain accounts, records or evidence for determining the value of the item of iron and steel used by him in the manufacture of the item of iron and steel that he has sold to a registered dealer. (4) No claim for set off under sub-section (1) shall be allowed to a re-roller against his purchases of an item of iron and steel referred to in clause (iv) of section 14 of the Central Sales Tax Act, 1956, unless the amount of tax has been separately charged and shown in the bill or cash memo issued to him by a registered dealer from whom he has purchased such item of iron and steel. Explanation.—For the purpose of this section, the expression "re-roller" means a dealer who manufactures in West Bengal any item of one category of iron and steel referred to in clause (iv) of section 14 of the Central Sales Tax Act, 1956, from an item belonging to any other category of such iron -and steel.'.; (9) in section 25, in the second proviso to sub-section (1), for the words "fifteen per centum", the words "twenty-five per centum" shall be substituted; 26 The West Bengal Finance Act, 1995. III of 1995.] (Section 9.) (10) in section 38,— (a) for sub-section (2), the following sub-section shall be • substituted:— `(2) Where deduction of an amount is made under sub-section (1),— (a) the person making such deduction shall deposit the amount so deducted into a Government Treasury or Reserve Bank of India within such time, in such manner and in such form or challan as may be prescribed, or (b) in the case of a person who adopts "public works system of accounting" and makes such deduction, he shall transfer the amount so deducted to the appropriate head of account through account statement in the manner prescribed, which is required to be sent periodically to the Accountant General, West Bengal, and such transfer shall be deemed to be a deposit of the amount so deducted by the person making such deduction on the basis of such statement.' ; (b) in sub-section (3), after the word "challan", the words "or a copy of the account statement referred to in sub- section (2), as the case may be," shall be inserted; (11) in section 40,— (a) in sub-section (3),— (i) in clause (a), for the words "on the date of first commercial production", the words "on the date on which the tax becomes payable for a return period by the dealer in respect of sales of goods manufactured" shall be substituted; (ii) in clause (b), for the words "on the date of first commercial production", the words "on the date on which the tax becomes payable for a return period by the dealer in respect of sales of goods manufactured" shall be substituted; (iii) the following proviso shall be added at the end:— "Provided that where the State Government considers it necessary so to do in the public interest, it may relax the ceiling of the percentage 27 The West Bengal Finance Act, 1995. [West Ben. Act (Section 9.) of gross value of fixed capital assets or the amount of fifty crore rupees and raise, by a notification, such ceiling as may be specified therein considering— (a) size of investment, (b) special nature of industry, (c) employment potentiality, (d) down-stream effect of the industry, (e) ancillarizating effect of the industry, and (f) export potentiality."; (b) in the Explanation, for clause (b), the following clause shall be substituted:— `(b) the expression "existing industrial unit" shall mean an industrial unit having investment in fixed capital assets exceeding ten lakh rupees which exists in West Bengal and manufactures goods in such unit immediately before it starts commercial production in its expanded portion on or after the appointed day;'; (12) in section 41, in sub-section (1),— (a) after the words "goods manufactured in such unit", the words "or purchase of goods for use directly in the manufacture of such goods" shall be inserted; (b) for the words "of first commercial ,production", the words "on which the tax becomes payable for a return period in respect of sales of goods manufactured" shall be substituted; (13) in section 42,— (a) in sub-section (3), for the words "of first commercial production", the words "on which the tax becomes payable for a return period in respect of sales of goods manufactured" shall be substituted; (b) in the Explanation, the words "on or before the date of first commercial production" shall be omitted; (14) in section 43,— (a) in sub-section (4), for the words "of first commercial production", the words "on which the tax becomes payable for a return period in respect of sales of goods manufactured" shall be substituted; (b) in the Explanation, for the words "on or before the date of first commercial production in", the words "after rehabilitation or revival of' shall be substituted; 28 The West Bengal Finance Act, 1995. III of 1995.] (Section 9.) (15) in section 52,— (a) in sub-section (1), in clause (b), for the word and figures "Schedule VI" in the two places where they occur, the word and figure "Schedule X" shall be substituted; (b) in sub-section (2), for the word and figures "Schedule VI", the word and figure "Schedule X" shall be substituted; (c) in sub-section (4), for the word and figures "Schedule VI", the word and figure "Schedule X" shall be substituted; (d) in sub-section (11), for the word and figures "Schedule VI.", the word and figure "Schedule X." shall be substituted; (16) in section 84, for the word and figures "Schedule VI.", the word and figure "Schedule X." shall be substituted; (17) for Schedule I, the following Schedule shall be substituted:— "SCHEDULE I (See section 24.) Goods on sale of which no tax is payable Serial Description of goods Conditions and exceptions No. (1) (2) (3)