Amendment status not verified — confirm the current text below against the official source.
In the West Bengal Sales Tax (Settlement of Dispute) Act, 1999, in section 8, in sub-section (1), for the words "seven working days", the words "fifteen working days" shall be substituted. Amendment of West Ben. Act VIII of 1987. Amendment of West Ben. Act IV of 1999. West Ben. Act IV of 1999. • PART III] THE KOLKATA GAZETTE, EXTRAORDINARY, MARCH 6, 2017 5 The West Bengal Finance Act, 2017. (Sections 3-5.) ad valorem stamp-duty required under the proviso to article 5(d) and in furtherance of such agreement— (a) if the final assignment or lease-cum-sale is made, within four years from the date of agreement or within two years from the date of completion or occupancy certificate issued by appropriate authority or from the date of procurement of electric connection, whichever is earlier, in favour of the original purchaser or in favour of the member(s) of his or her family, the market value of the property as assessed at the time of registration of such agreement shall be treated as the market value of the property for the purpose of determination of chargeability at the time of registration of the final assignment or lease-cum-sale and the stamp-duty to be paid on such assignment or lease-cum-sale, shall be the difference between the duty payable and the duty already paid under the proviso to article 5(d) at the time of registration of the agreement or rupees ten, whichever is greater; (b) if the final assignment or lease-cum-sale is made beyond the time limit as specified in clause (a), in favour of the original purchaser or in favour of the member(s) of his/her family, the market value of the property shall be reassessed at the time of registration of such assignment or lease-cum-sale and the stamp- duty to be paid on such assignment or lease-cum-sale, shall be the difference between the duty payable and the duty already paid under the proviso to article 5(d) at the time of registration of the agreement or rupees ten, whichever is greater: Provided further that the above provisions shall not be applicable if final assignment or lease-cum-sale is made in favour of any person or persons other than those specified therein. Explanation.—For the purpose of this article, the expression "member of a family" shall have the same meaning as defined in article 33.'. Amendment of West Ben. Act I of 2012.