Amendment status not verified — confirm the current text below against the official source.
(1) Notwithstanding anything contained in sub-section (2) of section 32, or sub-section (2) of section 45, or clause (b) of sub-section (4) of section 46 but subject to sub-section (2) of this section and section 118, the Commissioner may, in the prescribed manner and subject to such restrictions and conditions as may be prescribed, permit the output tax payable under this Act by a registered dealer or a class or classes of dealers as may be prescribed, according to his returns referred to in sub-section (1) of section 32 or the tax payable by him according to a notice issued under sub-section (2) of section 45, or clause (b) of sub-section (4) of section 46,— (a) to be deferred in the prescribed manner and under such restrictions and conditions as may be prescribed where such registered dealer is entitled to continue to enjoy such deferment under clause (a) of sub- section (1) of section 118; or (b) to be exempt in the prescribed manner and under such restrictions and conditions as may be prescribed where such registered dealer is entitled to continue to enjoy such exemption under clause (b) of sub- section (1) of section 118; or "Payment of tax in respect of industrial units enjoying Deferment, Remission and Tax Holiday. PART HI} THE KOLKATA GAZETTE, EXTRAORDINARY, MARCH 31, 2005 71 The West Bengal Finance Act, 2005. (Section 9.) (c) to be remitted in the prescribed manner and under such restrictions and conditions as may be prescribed where such registered dealer is entitled to continue to enjoy such remission under clause (c) of the sub-section (1) of section 118. (2) Where the State Government considers it necessary so to do in the public interest, it may, after due consideration of certain factors as may be prescribed, relax the ceiling to such extent as may be prescribed."; (89) in section 118, in sub-section (1),-- (a) in clause (a), for the words "net tax", the words "output tax" shall be substituted; (b) for clause (b), the following clause shall be substituted:— "(b) where a registered dealer was enjoying benefit of tax holiday under section 39 of the West Bengal Sales Tax Act, 1994, for West Ben. Act a specified period, immediately before the appointed day and XLIX of 1994. who would have continued to be so eligible on such appointed day under that Act had this Act not come into force, may be allowed such tax holiday in a restricted manner by way of exemption from payment of ninety-five per centuin of output tax payable by him under this Act by the Commissioner for the balance unexpired period or until the aggregate of the benefit of exemption from payment of tax enjoyed by such dealer under section 39 of the West Bengal Sales Tax Act, 1994, computed from first day of April, 2003, exceeds the limit of two hundred per centuin of gross value of the fixed capital assets, whichever expires earlier, in such manner and subject to such terms and conditions as may be prescribed;"; (c) for clause (c), the following clause shall be substituted:— "(c) where a registered dealer was enjoying benefit of remission of tax under section 41 of the West Bengal Sales Tax Act, 1994, for a specified period or a specified amount determined with respect to gross value of the fixed capital assets, immediately before the appointed day and who would have continued to be so eligible on such appointed day under that Act had this Act not come into force, may be allowed remission of tax under this Act by the Commissioner for the balance unexpired period, or balance eligible amount with respect to gross value of fixed capital assets, whichever expires earlier, in such manner and subject to such terms and conditions as may be prescribed."; (90) in section 119, after clause (e), the following clause shall be inserted:— "(f) Notwithstanding anything contained elsewhere in this Act and the West Bengal Sales Tax Act, 1994, where a dealer registered under the West Bengal Sales Tax Act, 1994, is in possession of a certificate of registration thereunder on the day immediately before the appointed day and who is deemed to have been registered under sub-section (3) of section 23 of this Act, such certificate of registration shall be deemed to have been granted under this Act and shall continue to have effect till new registration certificate is issued under this Act, unless cancelled otherwise before such time as aforesaid, or within such time as the State Government prescribes by notification."; (91) in section 120. for the words, letters, figures and brackets "clause (a), clause (b) or clause (c) of section 118", the words, letter, figures and brackets "clause (a) of sub-section (1) of section 118" shall be substituted: 72 THE KOLKATA GAZETTE, EXTRAORDINARY, MARCH 31, 2005 [PART III The West Bengal Finance Act, 2005. (Section 9.) (92) in Schedule A,— (a) after serial No. 5 in column (1) and the entry relating thereto in column (2), the following entry in column (1) and entry relating thereto in column (2) shall be inserted:— "5A. Bread except pizza bread containing any type of fruit or vegetable."; (b) after serial No. 8 in column (1) and the entry relating thereto in column (2), the following entry in column (1) and entry relating thereto in column (2) shall be inserted:— "8A. Coconut fibre."; (c) after serial No. 21 in column (1) and the entry relating thereto in column (2), the following serial No. in column (1) and entry relating thereto in column (2) shall be inserted:— "21A. Idols, toy and doll made of clay."; (d) after serial No. 23 in column (1) and the entry relating thereto in column (2), the following serial Nos. in column (1) and the entries relating thereto in column (2) shall be inserted:— "23A. Lac and shellac.