Amendment status not verified — confirm the current text below against the official source.
In the West Bengal Value Added Tax Act. 2003.— (1) in section 2, in clause (41), in sub-clause (c), for the words "and cess levied", the words and figures ", tax levied under the West Bengal Motor Vehicles Tax Act, 1979 and cess levied" shall be substituted; (2) in section 16, in sub-section (6),— (a) in clause (b), for the words "in the preceding year commencing on or after the date of coming into force of this sub-section does not exceed fifteen lakh rupees", the words "in the preceding year does not exceed twenty five lakh rupees" shall be substituted; (b) in clause (c), for the words "fifteen lakh rupees", the words "twenty-five lakh rupees" shall be substituted; (c) in the second proviso, for the words "fifteen lakh rupees", the words "twenty-five lakh rupees" shall be substituted; (3) in section 18, for sub-section (1), in clause (aa), for the words "where goods represents those involved in printing of materials", the words "where goods represents those involved in printing of materials including lamination thereon" shall be substituted; (4) in section 22, in the NEGATIVE LIST. for the entry in column (3) against serial No. 2 in column (1), the following entry shall be substituted:— "When the registered dealer is a works contractor and uses such goods in the execution of works contract, or when the registered dealer is in the business of dealing in such goods."; (5) in section 24A,— (a) for sub-section (1). the following sub-sections shall be substituted:— "( I) Notwithstanding anything contained in sub-section (1) and sub-section (2) of section 24, a dealer who is liable to pay tax under section 10, or section 14. or both but has failed to apply for registration under the Act, may. at his option, make an application for registration in the prescribed form to the prescribed authority under section 24 within the 31st day of December. 2012. along West Ben. Act IX of 1979. 6 THE KOLKATA GAZETTE. EXTRAORDINARY. MARCH 31. 2012 [PART III The West Bengal Finance Act, 2012. (Section 5.) with a declaration by such dealer giving particulars of turnover of sales, or contractual transfer price, or both, or part thereof, and proof of payment of tax. in lieu of tax payable tinder sub-section (2) of section 16. or sub-section (1) of section 18, or both, as the case may be. at the rate and for the year or years or part thereof as specified in sub-section (1A): Provided that the provisions of this sub-section shall not apply to any dealer.— (a) if any notice for determination of his liability to pay tax under any of the provisions of the Act has been issued to him under section 66; or (b) if any accounts, registers or documents, including those in the form of electronic records have been seized from him under section 67 on or after the appointed day. (IA) The rate of tax, depending on the fact whether tax is payable by the dealer under sub-section (2) of section 16 or sub- section (1) of section 18 or both, as the case may be, and the year or years or part thereof for which tax is to be paid under this section in lieu of the tax otherwise payable by such dealer, shall be as follows:— (a) in lieu of tax payable under sub-section (2) of section 16, at the rate not exceeding two per centum as the State Government may by notification specify, on the turnover of sales on which tax is payable under sub-section (2) of section 16, for the year or years or part thereof commencing from the date of acquiring liability to pay tax till the date preceding the date of filing of the application under this section; (b) in lieu of tax payable under sub-section (1) of section 18, at the rate not exceeding four per centurn as the State Government may by notification specify, on the contractual transfer price, for the year or years or part thereof commencing from the date of acquiring liability to pay tax till the date preceding the date of filing of the application under this section."; (6) in section 29. in sub-section (4),— (a) in the first proviso, for the words and figures "as may be prescribed.", the words and figures "as may be prescribed:" shall be substituted; (b) after the first proviso, the following proviso shall be inserted:— "Provided further that where an application for restoration of certificate of registration is moved by the dealer after six months from the date of its cancellation and the appropriate authority considering his prayer intends to restore his registration from the date of cancellation of such certificate, he shall, before passing any order to this effect. obtain the approval of the Commissioner."; (7) in section 30E,— (a) in sub-section (IA). for the words "turnover of sales or contractual transfer price or both exceeds rupees one crore and fifty lakh in a year". the words "turnover of sales or contractual transfer price or both, or turnover of purchases exceeds rupees three crate in a year or part of a year" shall be substituted; PART III] THE KOLKATA GAZETTE, EXTRAORDINARY. MARCH 31. 2012 7 The West Bengal Finance Act. 2012. (Section 5.) (b) after sub-section (1B), the following sub-section shall be inserted:- 11C) Every registered dealer, other than those mentioned in sub-section (IA) or sub-section (IB), whose turnover of sales or contractual transfer price or both, or turnover of purchases exceeds rupees one crore and fifty lakh in a year or part of a year, shall, within such date as may be prescribed, submit before the prescribed authority a copy of the Profit and Loss Account and Balance Sheet for such year. along with a self-audit statement in the prescribed form."; (c) in sub-section (2), for the words. figure and letter "or sub- section (IB)", the words, figures and letters ", sub-section (1B) or sub-section (IC)" shall be substituted: in section 40, Explanation to sub-section (1) shall be renumbered as Explanation I to that sub-section and after Explanation Iso renumbered, the following Explanation shall be inserted:— 'Explanation IL—For the purpose of this section, the expression "any person responsible for paying any sum", in respect of contract between such dealer and company, or educational institution. or promoter, or non-public sector bank, or non-Government hospital, or nursing home, or diagnostic centre, or partnership firm, or joint-venture company, or limited liability partnership as referred to above, shall include the proprietor, partner, director, manager, principal, or person in charge at the time of such payment, as the case may be.'; (9) in section 43,— (a) in sub-section (3), for the words "prepare a report stating his observation therein regarding the correctness of returns, admissibility of various claims of the dealer for the period for which such audit is made", the words "prepare a report stating his observation or findings therein regarding the correctness of returns, admissibility of various claims of the dealer for the period for which such audit is made, and also prepare a computation sheet, in the form and manner as may be prescribed, to be attached with the report showing quantification of tax, interest, or late fee payable by him" shall be substituted; (b) after sub-section (5). the following sub-section shall be inserted:— "(5A) Notwithstanding anything contained in sub-section (5), where the dealer fails to pay the tax, interest, or late fee as stated in the computation sheet attached to the report drawn under sub- section (3), within one month of receipt of such report and the computation sheet, such report shall, on expiry of one month, be deemed to be an order of assessment and the computation sheet attached to the report shall be deemed to be a notice of demand and such amount shall be payable within fifteen days thereafter: Provided that the provision of this sub-section shall not be applicable in respect of assessment required to be made under any of the clauses of sub-section (1) of section 46, other than clause (ca) of sub-section (1) of section 46."; (10) in section 46,— (a) in sub-section (1),— (i) after clause (ec), the following clauses shall be inserted:— "(ed) where a registered dealer fails to submit the audit report or the self-audit statement as mentioned in section 30E; or (8) 8 THE KOLKATA GAZETTE. EXTRAORDINARY. MARCH 31. 2012 [PART III The West Bengal Finance Act, 2012. (Section 5.) (ef) where a certificate of registration of dealer is restored upon an order passed in accordance with the provisions of sub-section (4) of section 29; or"; (ii) in the seventh proviso, for the word "dropped.", the word "dropped:" shall be substituted; (iii) after the seventh proviso. the following proviso shall be inserted:— "Provided also that where the report together with the computation sheet as referred to in sub-section (5A) of section 43, on expiry of the time specified therein, are deemed to be an order of assessment and a notice of demand, respectively, no fresh assessment proceedings under this sub- section shall be made."; (b) sub-section (2) shall be omitted; (c) in sub-section (3).— (i) in clause (a). for the words, figures and brackets "in making the assessment under sub-section (1) and imposing the penalty under sub-section (2), give the dealer", the words, figure and brackets "in making the assessment under sub-section (1), give the dealer" shall be substituted; (ii) in clause (b),— (A) for the words "after making such assessment or imposing such penalty", the words "after making such assessment" shall be substituted: (B) for the words "dealer has carried forward in the return for the next return period, and penalty imposed upon such assessment in such manner as may be prescribed", the words "dealer has carried forward in the return for the next return period" shall be substituted; (11) in section 47A,— (a) for sub-section (1). the following sub-section shall be deemed to have been substituted with effect from the 1st day of September, 2011:— "( I) The returns furnished by a registered dealer, other than those covered by clause (a) or clause (b) or clause (c). of sub- section (1) of section 116. shall, notwithstanding the provisions of sub-section (1) of section 46 and subject to the provisions of sub- section (2) and sub-section (4), be accepted as correct and complete for the year(s) [hereinafter referred to as the eligible period(s)1 as mentioned in column (2), and having total turnover of sales as mentioned in column (3). of the Table below and the assessment in respect of such eligible period(s) shall be deemed to have been PART III] THE KOLKATA GAZETTE. EXTRAORDINARY. MARCH 31, 2012 9 The West Bengal Finance Act, 2012. (Section 5.) made under sub-section (1) of section 47 on the date as mentioned in column (4) of the Table:— TABLE SI. No. Eligible period(s) Total turnover of sales (in rupees) Date on which it shall be deemed to be assessed (1) (2) (3) (4)