Amendment status not verified — confirm the current text below against the official source.
(1) Subject to the other provisions payable on sales of this section, there shall be a set-off of the of certain goods manufactured in amount of tax which has been realised from a West Bengal. registered dealer in respect of sales to him of such goods as may be prescribed for use by him as input directly in the manufacture in West Bengal of such finished goods as may be prescribed against the amount of tax pay- able by such registered dealer on his sales in West Bengal of the goods so manufactured. (2) A registered dealer who intends to claim a set-off of the amount of tax under sub-section (1) shall, for the purpose of determining the amount of tax to be set off, maintain accounts, records or evidence in respect of the price and quantity of the goods purchased for use directly in the manu- facture in West Bengal of the finished goods, referred to in sub-section (1) and he shall also maintain accounts, records or evidence in respect of sale price and quantity of the goods so manufactured by him in West Bengal. (3) No claim for set-off of tax under sub-section (1) shall be allowed to a registered dealer in respect of tax realised from him on the sales made to him unless such sales are made to him by a registered dealer and the amount of tax realised from him is shown to have been separately charged in the bill or cash memo issued to him by the registered dealer from whom he has purchased such input. (4) A registered dealer shall not be entitled to any claim under sub-section (1) for the set-off of the amount of tax realised from him in respect of the sales to him of the goods by any other registered dealer who, during the eligible period, enjoys exemption from payment of tax under section 39, or remission of tax under section 41, section 42 or section 43, or enjoys the benefit of deferment of payment of tax under section 40, section 42 or section 43, unless the registered dealer claiming such set-off furnishes a declaration referred to in the second proviso to sub-section (2) of section 17 to the registered dealer from whom such goods have been purchased for use by him as input. 65 The West Bengal Finance Act, 1998. [West Ben. Act (Section 6.) (5) No registered dealer who enjoys tax holiday under section 39, deferment of payment of tax under section 40 or section 42 or section 43, or enjoys remission of tax under section 41, section 42 or section 43, shall be entitled to claim set-off under sub-section (1), unless the registered dealer claiming such set-off furnishes the declaration referred to in. the second proviso to sub-section (2) of section 17 to the registered dealer from whom any prescribed goods have been purchased by him in West Bengal for use by him as input directly in the manufacture as referred to in sub-section (1)."; (13) section 23 shall be omitted; (14) in section 26, for sub-section (12), the following sub-section shall be substituted:— "(12) Where a dealer, after cancellation of his certificate of registration under sub-section (11), pays in full the amount of tax, penalty or interest payable by, or due from, him under this Act in default of payment of which his certificate of registration has been cancelled under that sub-section, and makes an application to the prescribed authority for restoration of his certificate of registration together with receipted challan evidencing payment of such tax, penalty and interest within ninety days from the date of such cancellation or within such further time as may be allowed, the prescribed authority shall, by an order in writing, restore the certificate of registration of such dealer with effect from the date of cancellation of such certificate as if the certificate were in force during the period in which it remained cancelled."; (15) in section 28, for sub-section (4), the following sub-section shall be substituted:— "(4) The Commissioner may, by an order in writing and for good and sufficient reason, demand from any person or a dealer a reasonable security for proper use and safe custody of the form referred to in sub-section (3) of section 68 and obtained from the prescribed authority, and the way bill referred to in section 73."; (16) in section 29, in sub-section (1), for the proviso, the following provisos shall be substituted:— "Provided that no penalty shall be imposed under this sub- section on any dealer where such dealer makes application for registration to the prescribed authority in the manner referred 66 The West Bengal Finance Act, 1998. • III of 1998.1 (Section 6.) to in sub-section (2) of section 26 and the rules made thereunder on or before the 30th day of September, 1998, and gets himself registered: Provided further that no penalty shall be imposed under this sub-section in respect of the same fact for which a prosecution under sub-section (2) of section 88 has been instituted and no such prosecution shall lie in respect of a fact for which a penalty has been imposed under this section."; (17) after section 30, the following section shall be inserted:— "Composition