Amendment status not verified — confirm the current text below against the official source.
In the West Bengal Sales Tax Act, 1994,— (1) in section 39, after sub-section (3), the following sub-section shall be inserted:— "(4) Notwithstanding the provisions contained in sub-section (1), but subject to the provisions of sub-section (3), every dealer who has been enjoying, or has been entitled to enjoy, the benefit of exemption from payment of tax under sub-section (1), shall cease to enjoy such benefit of exemption on expiry of— (a) five years from the date of his first sale of the goods manufactured in his newly set up small-scale industrial unit if such unit is situated within the area of the Kolkata Metropolitan Planning Area as described in the First Schedule to the West Bengal Town and Country (Planning and Development) Act, 1979; or (b) seven years from the date of his first sale of the goods manufactured in his newly set up small-scale industrial unit if such unit is situated in any area other than the areas referred to in clause (a): Provided that the dealer shall not be entitled to enjoy the benefit of exemption for the full period as referred to in clause (a), or clause (b), as the case may be, and he shall cease to enjoy such exemption from the day immediately following the day on which the aggregate of the benefit of exemption from payment of tax enjoyed by the dealer under this section, computed from the day of coming into force of this sub-section, exceeds two hundred per centtun of the gross value of fixed assets. Explanation.—For the purposes of this sub-section.— (a) the expression "gross value of fixed assets", in relation to a newly set up small-scale industrial unit, shall mean the aggregate of actual price or premium paid by the dealer for the land, whether freehold or leasehold, expenditure incurred by the dealer for construction of the factory shed, the cost of plant and machinery including those obtained on hire, lease, rent or loan and cost of pollution control equipment, on or before the date on which the tax becomes payable by such dealer for any return period; Amendment of West Ben. Act VIII of 1987. Amendment of West Ben. Act XLIX of 1994. West Ben. Act X111 of 1979. PART III] THE KOLKATA GAZETTE, EXTRAORDINARY, MARCH 31, 2003 5 The West Bengal Finance Act, 2003. (Section 7.) (b) the aggregate of the benefit of exemption enjoyed by the dealer under this section shall, notwithstanding that the sale is exempt from tax, be determined in such manner, and within such time, as may be prescribed, on the basis of the appropriate rate specified in sub- section (1), or sub-section (2), of section 17 at which the sale would have been otherwise subjected to tax, if the dealer had not been enjoying the benefit of exemption under this section."; (2) in section 73,— (a) in sub-section (1), in clause (a), for the words "a way bill in the prescribed form containing such particulars as may be prescribed,", the words "a way bill in the prescribed form, or such document, containing description, quantity or weight and value of the goods and such other particulars as may be prescribed," shall be substituted; (b) after sub-section (2), the following sub-section shall be inserted:— "(2A) Where it appears to the Commissioner that— (a) due to failure of any person, dealer or casual trader, no way bill in the prescribed form or such document as mentioned in clause (a) of sub-section (1), as the case may be, could be produced by the transporter before him, or (b) the way bill in the prescribed form or such document as mentioned in clause (a) of sub-section (1), produced is fake, false or incorrect in respect of the description, quantity or weight and the value of the goods transported, or (c) the consignor of the goods does not exist at the address declared in the way bill in the prescribed form or such document as mentioned in clause (a) of sub-section (1), as the case may be, he shall, for reasons to be recorded in writing, seize such goods under section 70 at any checkpost, or at any place, referred to in sub-section (2)."; (3) in section 88, in sub-section (1), after clause (e), the following clause shall be inserted:— "(ee) fails to make full amount of penalty imposed under section 7IB; or; (4) after section 94, the following sections shall be inserted:—