ln exercise of the power conferred by sub-section (3B) of section 16 of the West Bengal Value Added Tax Act, 2003 (West Ben. Act XXXVII of 2003), as subsequently amended (hereinafter referred to as the said Act), the Governor is pleased hereby to specify that a registered dealer having liability to pay tax under the said Act, who makes sale by way of transferring the right to use any, goods as mentioned in sub-clause (c) of clause (39) of section 2 of the said Act and opts to pay tax under sub-section (3B) of section 16 of the said Act, shall, in lieu of tax payable under sub-section (2) of section 16 of the said Act, pay a tax at a compounded rate of two per centum on the turnover of sales of such goods on which tax is payable.

2. This notification shall be deemed to have come into force with effect from the 1st day of August, 2006.