The following Act of the West Bengal Legislature, having been assented to by the Governor, is hereby published for general information.

West Bengal Act II of 2012

Extract of THE WEST BENGAL FINANCE ACT, 2012.

[Passed by the West Bengal Legislature]

[Assent of the Governor was first published in the Kolkata Gazette, Extraordinary, of the 31st March, 2012]

An Act to amend the Indian Stamp Act, 1899 (Act 2 of 1899)., in its application to West Bengal, 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.)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, in its application to West Bengal, the West Bengal State Tax on Professions, Trades, Callings and Employments Act, 1979, the West Bengal Sales Tax Act, 1994 and the West Bengal Value Added Tax Act, 2003, for the purposes and in the manner hereinafter Apearing It is hereby enacted in the Sixty-third 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, 2012.

(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. Amendment of West Ben. Act VI of 1979

4. Amendment of West Ben. Act XLIX of 1994.

In the West Bengal Sales Tax Act, 1994

(1) in section 2

(a) after clause (28), the following clause shall be inserted:-

(28a) "return period" means a period, as may be prescribed, for which a return is due under the Act.

(b) after clause (35), the following clause shall be inserted:-

(35a) "tax period" means such period, as may be prescribed, for which tax is payable under the Act.

(2) in section 31,

(a) for sub-section (1), the following sub-section shall be substituted:-

"(1) Where a registered dealer, or a dealer required to furnish return under sub-section (3) of section 30, furnishes return in respect of any return period but fails to make full payment of the tax payable under sub-section (4) of that section in respect of any tax period within such return period by the prescribed date for payment of tax, he shall pay a simple interest at the rate of twelve per centum per annum for the period commencing on the date immediately following the prescribed date for payment of tax and upto the date prior to the date of payment of such tax or, upto the date preceding the date of commencement of proceeding under section 52 or, upto the date prior to the date of assessment under section 45, or section 46, as the case may be, whichever is earlier, in respect of such return period upon so much of the amount of tax payable by him according to such return as remains unpaid:

Provided that where such dealer admits in writing that the amount of tax payable in respect of any such tax period within the return period is an amount which is either more or less than what has been originally shown as payable in the return and where the Commissioner is satisfied on the point of such admission, the interest shall be payable upon so much of the amount of tax payable for such tax period according to such admission as remains unpaid.

(b) for sub-section (2), the following sub-section shall be substituted:-

"(2) Where a registered dealer, or a dealer required to furnish return under sub-section (3) of section 30, fails to furnish such return by the prescribed date or thereafter in respect of any return period before the assessment under section 45, or section 46, as the case may be, and on such assessment full amount of net tax payable for such period is found not to have been paid by him by the prescribed date for payment of tax, he shall pay a simple interest at the rate of twelve per centum per annum for the period commencing on the date immediately following the prescribed date of payment of such tax in respect of such tax period and upto the date prior to the date of assessment under section 45, or section 46, as the case may be, in respect of such return period upon so much of the amount of tax payable by him according to such assessment as remains unpaid:-

Provided that where the assessment under section 45, or section 46, as the case may be, is made for more than one return period and such assessment does not show separately the tax payable for the tax periods within such return periods in respect of which interest is payable under this sub-section, the Commissioner shall apportion the tax payable for the tax periods within such return periods on the basis of such assessment."

(3) in section 32, in sub-section (1), for the words and figures "pay a simple interest at the rate of one per centum for each British calendar month of default from the first day of the month next following the date specified in such notice upto the month preceding the month of full payment of such tax or upto the month preceding the month of commencement of proceedings under section 52, whichever is earlier, upon so much of the amount of tax payable by him according to such notice as remains unpaid at the end of each such month of default", the words and figures "pay a simple interest at the rate of twelve per centum for the period of default, calculated from the date next following the date specified in such notice upto the date of full payment of such tax or upto the date preceding the date of commencement of proceedings under section 52, whichever is earlier, upon so much of the amount of tax payable by him according to such notice as remains unpaid" shall be substituted.

(4) in section 48 for sub-section (4), the following sub-section shall be substituted:-

(4) Notwithstanding anything contained in sub-section (1), subsection (2), sub-section (2A), or sub-section (3) (a) when a fresh assessment is required to be made in pursuance of an order under section 79, section 80, section 81 or section 82, or section 82A, or in pursuance of any order of the Tribunal or any court, such fresh assessment may be made at any time within two years from the date of such order, and

(b) when the dealer in respect of whom an assessment is required to be made for any period under this Act is also registered under the West Bengal Value Added Tax Act, 2003(West Ben. Act XXXVII of 2003.), and an assessment is required to be made for that period also under that Act, the assessment including a fresh assessment under this Act may be made at any time up to the date on which an assessment for that period may be made under that Act or within the date mentioned in subsection (2), or sub-section (3), or clause (a) of this sub-section, whichever is later."

(5) in section 79, in the Explanation, for the words and figures "or section 82", the words and figures "or section 80 or section 81 or section 82 or section 82A or section 83" shall be substituted.

By order of the Governor

B. K. SRIVASTAVA

Secy.-in-charge to the Govt. of West Bengal

Law Department.