The following Act of the West Bengal Legislature, having been assented to by the Governor, is hereby published for general information:-
West Bengal Act III of 2015
EXTRACT OF THE WEST BENGAL FINANCE ACT, 2015.
[Passed by the West Bengal Legislature.]
[Assent of the Governor was first published in the Kolkata Gazette, Extraordinary, of the 24th March, 2015.]
An Act to amend the Indian Stamp Act, 1899, in its application to West Bengal, the Bengal Amusements Tax Act, 1922 (Ben. Act. V of 1922), the Bengal Electricity Duty Act, 1935 (Ben. Act. X of 1935), the West Bengal State Tax on Professions, Trades, Callings and Employments Act, 1979 ( West Ben. Act. VI of 1979), the West Bengal Sales Tax Act, 1994 ( West Ben. Act. XLIX of 1994), the West Bengal SalesTax (Settlement of Dispute) Act, 1999 ( West Ben. Act. IV of 1999) and the West Bengal Value Added Tax Act, 2003( West Ben. Act. XXXVII of 2003).
Whereas it is expedient to amend the Indian Stamp Act, 1899(2 of 1899), in its application to the State of West Bengal, the Bengal Amusements Tax Act, 1922, the Bengal Amusements Tax Act, 1922 (Ben. Act. V of 1922), the Bengal Electricity Duty Act, 1935 (Ben. Act. X of 1935), the West Bengal State Tax on Professions, Trades, Callings and Employments Act, 1979 ( West Ben. Act. VI of 1979), the West Bengal Sales Tax Act, 1994 ( West Ben. Act. XLIX of 1994), the West Bengal SalesTax (Settlement of Dispute) Act, 1999 ( West Ben. Act. IV of 1999) and the West Bengal Value Added Tax Act, 2003( West Ben. Act. XXXVII of 2003), for the purposes and in the manner hereinafter appearing;
It is hereby enacted in the Sixty-sixth Year of the Republic of India, by the Legislature of West Bengal, as follows:
1. Short Title and commencement
(1) This Act may be called the West Bengal Finance Act, 2015.
(2) Save as otherwise provided, it shall come into force on such date, or shall be deemed to have come into force on such date as the State Government may, by notification in the Official Gazette, appoint, and different dates may be appointed for different provisions of this Act.
8. Amendment of West Ben . Act XXXVII of 2003
In the West Bengal Value Added Tax Act, 2003-
(1) in section 10, in sub-section (3), in clause (b), in the proviso, for the words "five lakh rupees", the words "ten lakh rupees" shall be substituted;
(2) in section 14,-
(a) in sub-section (4), for the words "five lakh rupees", recurring in two places, the words "ten lakh rupees" shall be substituted;
(b) in sub-section (5), for the words "five lakh rupees", the words "ten lakh rupees" shall be substituted;
(c) in sub-section (6), for the words "five lakh rupees", the words "ten lakh rupees" shall be substituted;
(d) in sub-section (7), for the words "five lakh rupees", the words "ten lakh rupees" shall be substituted;
(e) in sub-section (8), for the words "five lakh rupees", the words "ten lakh rupees" shall be substituted;
(3) in section 16, in sub-section (2),-
(a) in clause (c), for the words and figures "under section 19", the words, figures and brackets "under sub-section (1) of section 19" shall be substituted;
(b) after clause (c), the following sub-clause shall be inserted:-
"(d) at such rate as may be fixed by the State Government under sub-section (2) of section 19, on such sales as represents sales of any goods specified in Schedule D in respect of which such rate has been fixed.";
(4) section 19 shall be renumbered as sub-section (1) of that section, and after sub-section (1) so renumbered, the following sub-section shall be inserted:-
"(2) Notwithstanding anything contained in sub-section (1), the State Government may, by notification, fix the amount of tax payable, subject to such terms and conditions, if any, as may be notified, on the sale of goods or sale of a class of goods specified in Schedule D, on the basis of weight, volume, measurement or unit of such goods, and different amounts of tax may be fixed for sales of different items of such goods in respect of a specified area or whole of the State.";
(5) In Section 22,-
(a) in sub-section (4), to the second proviso, the following proviso shall be added:-
"Provided also that where a registered dealer purchases any duty credit scrip from another registered dealer and utilises the same for import of goods to be used for the purpose of manufacturing of taxable goods within the State, input tax credit on the same shall be available to him under clause (d) or clause (h) or both.";
(b) after sub-section (4), the following sub-section shall be inserted:-
"(4A) The input tax credit or input tax rebate in respect of a transaction involving taxable goods shall be available to the purchasing dealer-
(a) if the amount of tax is actually paid by the selling dealer in respect of such transaction by way of deposit into appropriate government treasury or by way of including such tax in the total amount of output tax shown in the relevant return submitted under section 32 by the selling dealer, and upon payment of the net tax payable as per the return; and
(b) the amount of input tax credit or input tax rebate shall not exceed the amount of tax so paid by the selling dealer in respect of such transaction.";
(c) in sub-section (13), in clause (a), after sub-clause (iii), the following sub-clause shall be inserted:-
"(iv) purchases goods and avails input tax credit or input tax rebate on such purchases to the extent by which such input tax credit or input tax rebate is in excess of what he is entitled to enjoy in accordance with sub-section (4A); or";
(6) in section 24A,-
(a) in sub-section (1), for the words, figures and letters "the 31st day of December, 2012", the words, figures and letters "the 31st day of July, 2015" shall be substituted;
(b) in sub-section (3), for the words "date of order granting such registration", the words "date of submitting complete application for such registration" shall be substituted;
(7) in section 30E,-
(a) in sub-section (1A), for the words "whose turnover of sales or contractual transfer price or both, or turnover of purchases exceeds rupees five crore in a year", the words "whose turnover of sales including stock transfer outside the State or contractual transfer price or both or turnover of purchases including stock transfer into the State exceeds rupees ten crore in a year" shall be substituted;
(b) for sub-section (1C), the following sub-section shall be substituted:-
"(1C) Every registered dealer, other than those mentioned in sub-section (1A) or sub-section (1B), who are required to get his accounts audited under the provision of the Income Tax Act, 1961, shall, within such date as may be prescribed, submit a copy of the audit report as required to be furnished under that Act together with a copy of the Profit and Loss Account and Balance Sheet for such year.";
(8) in section 33,-
(a) in sub-section (1), for the words "at the rate of twelve per centum per annum", the words, figures and letter "at the rate as specified in section 34B" shall be substituted;
(b) in sub-section (2), for the words "at the rate of twelve per centum per annum", the words, figures and letter "at the rate as specified in section 34B" shall be substituted;
(c) in sub-section (3), for the words "at the rate of twelve per centum per annum", the words, figures and letter "at the rate as specified in section 34B" shall be substituted;
(9) in section 34,-
(b) in sub-section (3), for the words "at the rate of twelve per centum per annum", the words, figures and letter "at the rate as specified in section 34B" shall be substituted;
(10) in section 34A, for the words "at the rate of twelve per centum per annum", the words, figure and letter "at the rate as specified in section 34B" shall be substituted;
(11) after section 34A, the following section shall be inserted:-
34B. Rate of interest Payable
The interest payable for any period by a dealer, casual dealer, transporter, contractee, promoter, or any other person under the Act, shall be at the rate as specified below:-
(a) at the rate of one per centum per month up to the first ninety days of the period for which such interest is payable;
(b) at the rate of one and half per centum per month after the first ninety days and up to three hundred days of the period for which such interest is payable; and
(c) at the rate of two per centum per month after the first three hundred days of the period for which such interest is payable.**;
(12) section 36 shall be renumbered as sub-section (1) of section 36, and after sub-section (1) so renumbered, the following sub-section shall be inserted:-
"(2) The Commissioner shall, in the prescribed manner, pay a simple interest at the rate of twelve per centum per annum for each month of delay in making refund to a registered dealer in accordance with section 62, arising out of an order under section 46 relating to any assessment period starting on or after the 1st day of April, 2014, from the first day of the English calendar month next following three months after the date of such assessment order, or after the date of order under sub-section (3) of section 62, whichever is later, and up to the date on which the refund is made, upon the amount of tax paid in excess, or the amount of unadjusted net tax credit over output tax which has not been carried forward to the next return period and refundable to him according to such assessment order";
(13). In Section 40,
(a) after sub-section (2), the following sub-sections shall be inserted:-
"(2A) After the deposit of the amount deducted under sub-section (2), the person who makes the deduction, shall furnish a scroll, within such date, in such manner, and to such authority, as may be prescribed.
(2B) Where the person who makes the deduction under sub-section (2) or a contractee, delays in furnishing the scroll referred to in sub-section (2A), he shall be liable to pay late fee and the provisions of sub section (2) of section 32 shall, mutatis mutandis, apply.";
(b) in sub-section (3), for the words "within fifteen days from the date of such deposit", the words "within twenty-five days from the end of the English Calendar month during which deduction is made" shall be substituted;
(c) for sub-section (3A), the following sub-section shall be substituted:-
"(3A) Where a contractee discovers any omission or error in the data entered in the scroll, he may furnish a revised scroll within six English Calendar months beginning from the month immediately following the month in which the original scroll is to be furnished, and if the revised scroll shows a greater amount of tax deducted, or late fee or interest payable, than what was shown in the original scroll, it shall be accompanied by a copy of the receipted challan or a copy of the account statement showing the extra amount of tax, late fee or interest payable thereon, in the manner as may be prescribed:
Provided that the Commissioner may, if he is satisfied on the reasons adduced by the contractee, extend, by an order in writing, the time for revising the scroll";
(d) after sub-section (3A), the following sub-sections shall be inserted:-
"(3B) Where the person who makes the deduction under subsection (2) or a contractee, fails to deposit the amount so deducted towards tax leviable on intra-State contractual transfer price, within the prescribed date, he shall pay a simple interest at the rate specified in section 34B for the period commencing on the date immediately following the prescribed date for payment of such amount and upto the date preceding the date of payment of such amount or preceding the date of commencement of proceeding under section 55, whichever is later.
(3C) Where the interest payable under sub-section (3B) has not been paid, the Commissioner may determine the amount of interest so payable and issue notice to the person for payment of the same in such manner as may be prescribed, and if the amount of interest so demanded is not paid within the date specified in such notice, the amount may be recovered in accordance with the provisions of section 55 or section 60.
(3D) No interest or late fee or penalty shall be payable under this section in such cases, or under such circumstances, and subject to such conditions or restrictions, if any, as the State Government may, by notification, specify";
(14) in section 47AA,-
(a) sub-section (3) shall be omitted;
(b) in sub-section (4), for the words "any other reason", the words and figures "any other reason, and such assessment may be made, notwithstanding anything contained in section 47 or section 49, within the 30th day of June next following one year from the date of reopening of such summary assessment" shall be substituted;
(15) in section 61, in sub-section (1), for clause (ab), the following clause shall be substituted:-
"(ab) to a registered dealer, whose sum total of the turnover of inter-State sales of taxable goods within the meaning of sub-section (1) of section 8 of the Central Sales Tax Act, 1956 and of the turnover of sales of goods in the course of export out of the territory of India within the meaning of section 5 of the Central Sales Tax Act, 1956, exceeds fifty per centum of the total turnover of sales in a return period, of such per centum of excess amount of input tax credit after adjustment of reverse credit over output tax for such return period, as corresponds to the sum total of the turnover of sales referred to in this sub-clause computed as per centum of total turnover of sales in the return period;";
(16) in section 84,-
(a) in sub-section (1), for the second proviso, the following proviso shall be substituted:-
"Provided further that no appeal for any period submitted on or after the 1st day of April, 2015, shall be entertained by the said authority unless it is satisfied that the applicant has produced the documents relating to proof of payment of-
(a) full amount of tax, interest, penalty or late fee, as the case may be, as the applicant may admit to be due from him, and
(b) fifteen per centum of the amount of tax in dispute in such appeal:";
(b) in sub-section (2), after the third proviso, the following proviso shall be inserted:-
"Provided also that the appellate authority may dispose an appeal within six months from the date of order of refusing an application for settlement of dispute or revocation of certificate of settlement under the West Bengal Sales Tax (Settlement of Dispute) Act, 1999, relating to the period covered in such appeal.";
(17) in section 87, after sub-section (1B), the following sub-section shall be inserted:-
"(1C) Any application for revision filed on or after the 1st day of July, 2015 and entertained thereafter, shall be disposed of within the date as referred to in column (3) of the Table below corresponding to the date of its filing as referred in column (2) of the said Table:-
TABLE
Provided that the State Government may, subject to such conditions and restrictions as may be prescribed, further extend the time for disposal of such application for revision.";
(18) in section 87A, for the words, figures and letters "for a sum of less than twenty lakh rupees and relating to the year ending on the 31st day of March, 2007, and the 31st day of March, 2008, which had been preferred under section 87 before the Appellate and Revisional Board for revision of a final appellate or revisional order from an order of assessment and which is pending on the 30th day of September, 2011, before the said board, shall, on and from the 1st day of October, 2011", the words, figures and letters "for such amount, and for such period, as the State Government may, by notification, specify and which had been preferred under section 87 before the Appellate and Revisional Board for revision of a final appellate or revisional order from an order of assessment and which is pending on the 31st day of March, 2015, before the said board, shall, on and from the date as specified in the said notification" shall be substituted;
(19) in section 93, in sub-section (11), for the words, figure, letter and brackets "under sub-section (3A)", the words, figures, letters and brackets "under sub-section (3A), sub-section (3B)" shall be substituted;
(20) in Schedule C-
(a) in Part I, in the entry in column (2) against serial No. 54B in column (1),-
(i) in item (viii), for the words "machinery for print industry", the words "machinery for paint industry" shall be substituted;
(ii) in item (xxii), for the words "pollution control equipment manufacturing machinery", the words "pollution control equipment" shall be deemed to have been substituted with effect from the 1st day of April, 2005;
(b) in Part III, in serial No. 188 in column (1) and the entry relating thereto in column (4), after item (ii), the following item and the entry relating thereto in column (4) shall be inserted:-
"(iia) electrical sockets;".
9. Validation
Notwithstanding anything contained in any judgement, decree or order of any court, tribunal or other authority, the amendment made in the principal Act by clause (a) of sub-section (2) of section 2, shall be deemed to have been made with effect from the 2nd day of March, 2015, and accordingly anything done or any action taken or purported to have been taken or done under the principal Act on or after the said date, shall, notwithstanding anything contrary contained in the judgement, decree or order of any court, tribunal or other authority, be deemed to be, and to have always been for all purposes, as validly and effectively taken or done as if the said amendment had been in force at all material time.
By order of the Governor,
MALAY MARUT BANERJEE,
Secy. to the Govt. of West Bengal,
Law Department.