Amendment status not verified — confirm the current text below against the official source.
(1) Subject to the provisions of sub-section (2), the tax payable by a dealer, who is liable to pay tax under section 10, section 14, clause (b) of sub-section (1) of section 24 or sub-section (3) of section 30 on his turnover of sales, shall be levied on such part of his turnover of sales as remains after deducting therefrom— (a) sales of goods declared tax-free under section 21; (b) sales of goods which are shown to the satisfaction of the Commissoiner not to have taken place in West Bengal, or to have taken place in the course of inter-State trade or commerce within the meaning of section 3 of the Central Sales Tax Act,1956, or in the course of import of the 74 of 1956. goods into, or export of the goods out of, the territory of India within the meaning of section 5 of that Act; (c) sales of goods between dealers located in a Special Economic Zone (SEZ); (d) sales of goods between Export Oriented Units (EOU); (e) sales of goods between dealers referred to in clause (c) and clause (d); (0 sales of goods by a dealer to another dealer located in a Special Economic Zone (SEZ), subject to such conditions and restrictions as may be prescribed; (g) such other sales on such conditions and restrictions as may be prescribed. (2) The tax payable by a dealer on the turnover of sales as referred to in sub- section (1), shall be levied— (a) at the rate of one per centum of such part of his turnover of sales as represents sales of any goods specified in Schedule B; (b) at the rate of four per centum of such part of his turnover of sales as represents sales of any goods specified in Schedule C; (c) at such rate as may be fixed by the State Government under section 19, on such part of his turnover of sales as represents sales of any goods specified in Schedule D. Explanation.—For the purpose of this sub-section, it is hereby declared that the export of the goods out of the territory of India shall be zero rated i.e. the tax paid under this Act shall be refunded or adjusted, as the case may be, against the output tax payable, if any, by a dealer. (3) Notwithstanding anything contained in sub-section (1) or sub-section (2), any registered dealer other than a dealer engaged in execution of works contract as defined in clause (57) of section 2 of the Act, or an importer or a manufacturer having liability to pay tax under this Act, may, at his option, if his turnover of sales in the preceding year does not exceed twenty-five lakh rupees, pay tax at such rate and subject to such conditions and restrictions as may be prescribed, for each quarter of the year in lieu of tax payable under section 10, on all his sales: Provided that such dealer shall not be entitled to issue tax invoice: Provided further that the tax to be prescribed under this sub-section shall not exceed twelve per centum of the total turnover of sales of the dealer in the year immediately before the year for which the option has been exercised: PART nil THE KOLKATA GAZETTE, EXTRAORDINARY, DECEMBER 27, 2004 15 The West Bengal Value Added Tax Act, 2003. (Chapter 111.—Incidence and levy of tax.—Sections 17-21.) Provided also that a registered dealer who, in addition to the purchase of goods in course of his business in a year, have also received goods from the supplier within or outside West Bengal, not on branch transfer or on consignment basis, for which no price has been paid, shall not be entitled to opt for payment of tax under this sub- section. (4) Notwithstanding anything contained in sub-section (1) of section 18, any registered dealer, who is liable to pay tax under section 14, may, at his option, pay tax at such rate not exceeding five per centum of the aggregate of the amount received or receivable by such dealer and subject to such conditions and restrictions as may be prescribed, for each quarter of the year in lieu of the amount of tax payable by him under section 18: Provided that such dealer shall not be entitled to issue tax invoice. (5) Any registered dealer who intends to opt for payment under sub-section (3) or sub-section (4) of this section shall exercise his option by making an application to the Commissioner in such manner as may be prescribed. Levy of tax on turnover of purchases. Levy of tax on contractual transfer price.