Amendment status not verified — confirm the current text below against the official source.
(1) Any dealer liable to pay tax under rate of tax on sub-section (1) of section 10 and registered sale of lottery tickets. under this Act selling lottery tickets in West Bengal, may, at his option, pay the tax in lieu of tax payable under section 17, section 16 or section 16A, on sales of lottery tickets in West Bengal at such compounded rate, not exceeding rupees five lakh per draw, as may be prescribed. (2) The tax payable at a compounded rate referred to in sub-section (1) shall be paid by the dealer referred to in that sub-section into the Reserve Bank of India or a Government Treasury in such manner or by such date as may be prescribed. (3) Any dealer who intends to opt for payment under sub-section (1) shall exercise his option by making an application to the Commissioner in such manner, and by such date, as may be prescribed."; (9) in section 18, for sub-section (2), the following sub-section shall be substituted:— "(2) Notwithstanding anything contained in sub- section (1), the State Government may, if it is satisfied that it is necessary so to do in the public interest, by notification, and subject to such conditions as may be specified therein, direct that tax shall be payable at such rate lower than that fixed under sub-section (1), or exempt from payment a part of the tax payable by such dealer, or category of dealers, or for such class of sales, or for sale of such class or classes of goods, as may be specified in the notification."; 63 The West Bengal Finance Act, 1998. [West Ben. Act (Section 6.) (10) in section 21, to sub-section (1), the following proviso shall be added:— "Provided that— (a) where a declaration referred to in the first proviso to sub-section (2) of section 17, or a declaration referred to in sub-section (1) of section 6A of the Central Sales 74 of 1956. Tax Act, 1956, or a declaration or certificate referred to in sub-section (4) of section 8 of that Act has been furnished, or to be furnished, by a registered dealer to a dealer from whom goods have been purchased, or procured otherwise than by way of purchase, by such registered dealer for use by him directly in execution of a works contract, or (b) where goods have been procured by a registered dealer from his contractee otherwise than by way of purchase for use by him directly in execution of a works contract, the tax payable by such registered dealer executing such contract shall be levied at the rate of (i) twelve per centum of the contractual transfer price wholly or partly of electrical goods involved in execution of such contract, (ii) eight per centum of contractual transfer price of goods, other than those referred to in sub-clause (i), involved in execution of such contract."; (11) in section 22, for sub-section (5), the following sub-section shall be substituted:— "(5)' A re-roller shall not be entitled to any claim for set-off of tax under sub-section (1) realised from him in respect of his purchases of iron and steel, referred to in clause (iv) of section 14 of the Central Sales Tax Act, 1956, from a registered dealer who,— (a) enjoys exemption from payment of tax under section 39, or (b) enjoys remission of tax under section 41, section 42 or section 43, or (c) enjoys the benefit of deferment of payment of tax under section 40, section 42 or section 43, unless the re-roller claiming such set-off furnishes a declara- tion referred to in the second proviso to sub-section (2) of section 17 to such dealer from whom such iron and steel is purchased."; 64 The West Bengal Finance Act, 1998. III of 1998.] (Section 6.) (12) after section 22A, the following section shall be inserted:— "Set-off of tax