Amendment status not verified — confirm the current text below against the official source.
(1) There shall be a set-off of an " paid on purchase amount equal to fifty per centum of the of raw jute. amount of tax paid by an occupier of a jute- mill, registered under this Act, on his turnover of purchase of raw jute used by him directly in the manufacture in West Bengal of goods as may be prescribed, against the amount of tax payable by him under this Act on sales in West Bengal of goods so manufactured. 180 The West Bengal Finance Act. 2001. XVI of 2001.] (Section 10.) (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 raw jute purchased by him in West Bengal for use by him directly in the manufacture in West Bengal of goods referred to in sub-section (1). (3) No registered dealer, who enjoys tax holiday under section 39, or enjoys deferment of payment of tax under section 40, section 42, or section 43, or enjoys remission of tax under section 41, or section 42, or section 43, shall be entitled to claim any set-off under sub-section (1). (4) The claim for set-off of the amount of tax referred to in sub-section (1) shall not exceed the amount of tax payable by a registered dealer in*respect of his sale in West Bengal of the goods referred to in that sub-section, manufactured by him in West Bengal."; (8) in section 25, in sub-section (1), after the words "by like notification,", the words "with prospective or retrospective effect," shall be inserted, and shall be deemed to have been inserted, with effect from the 1st day of May, 1995; (9) in section 26, in sub-section (12),— (a) for the words "in default of payment of which", the words ", or furnishes the return referred to in that sub- section, for default of which," shall be substituted; (b) after the words "such tax, penalty and interest", the words ", or together with a copy of the receipt evidencing furnishing of such return, as the case may be," shall be inserted; and (c) after the words "as may be allowed, the prescribed authority", the words ", if necessary, upon verification, of the documents furnished with such application," shall be inserted; (10) in section 30, in sub-section (5),— (a) for the words, figures and brackets "a certificate of deduction referred to in sub-section (3) of section 38", the words, figures and brackets "a copy of the certificate of deduction referred to in sub-section (3) of section 38, duly certified by such dealer," shall be substituted; and 181 The West Bengal Finance Act, 2001. [West Ben. Act (Section 10.) (b) in the proviso, for the words "such authority such certificate", the words "such authority the copy of such certificate" shall be substituted; (11) in section 39, after sub-section (2), the following sub-section shall be inserted and shall be deemed to have been inserted, with effect from the 1st day of September, 1999:— "(3) Notwithstanding the provisions contained in sub- section (1) or the rules made thereunder, a dealer who has been enjoying, or has been entitled to enjoy, the benefit of exemption from payment of tax under that sub-section in respect of sale of goods manufactured by him in his newly set up small-scale industrial unit shall cease to be eligible for the benefit of exemption under that sub-section in respect of all sates of goods so manufactured by him, on franchise or otherwise, using the trpde mark or brand name or logo of any product of any other industrial unit, or commercial organisation, situated within or outside West Bengal."; (12) after section 39, the following section shall be inserted:— "Validation.