Amendment status not verified — confirm the current text below against the official source.
(1) Where a registered dealer manufactures any goods, other than such goods as may be prescribed, in a newly set up industrial unit established by him, or in an expanded portion of an existing industrial unit, in West Bengal, the tax payable by such dealer under this Act according to his returns referred to in sub-section (2) of section 30 in respect of sales of such goods manufactured in such unit shall, subject to such conditions and restrictions as may be prescribed, be remitted or continue to be remitted until the amount or the aggregate of the amounts of such tax exceeds the limit of such percentage of the gross value of fixed capital assets as on the date of first commercial production in such newly set up industrial unit or expanded portion of such existing industrial unit, not exceeding one hundred per centum of such gross value as may be prescribed or fifty crore rupees, whichever is less, and different percentages of such gross value may be prescribed for such newly set up industrial units or expanded portion of such existing industrial units, having regard to the location of such units, in such areas as may be prescribed: Provided that remission of such tax to the extent of the prescribed limit shall in no case continue in the case of a newly set up industrial unit or expanded portion of existing industrial unit beyond such period exceeding nine years as may be prescribed, and different periods may be prescribed for newly set up industrial units or expanded portion of existing industrial units, having regard to the location of such units in different areas: Provided further that the remission of tax payable by a dealer in respect of goods manufactured by him in any of the prescribed areas may be restricted to sales of such class or classes of goods as may be prescribed: Provided also that the period prescribed under the first proviso may, subject to such conditions and restrictions as may be prescribed, be extended by two years in the case of such industrial units as may be prescribed where investment in fixed capital assets exceeds one hundred crore rupees. 496 The West Bengal Sales Tax Act, 1994. XLIX of 1994.] (Chapter VI. Incentivesto industrial units—tax holiday, deferment of payment of tax and remission of tax.—Section 41.) Ben. Act VI of 1941. \ Vest Ben. Act IV of