EXTRACT OF THE JAMMU AND KASHMIR TAXATION LAWS (AMENDMENT) ACT, 2009

(Act No. VII of 2009).

20th March, 2009

An Act to amend the Jammu and Kashmir Value Added Tax Act, 2005, the Jammu and Kashmir General Sales Tax Act, 1962, the Jammu and Kashmir Entry tax on Goods Act, 2000, the Stamps Act, Samvat 1977 and the Jammu and Kashmir Motor Spirit and Diesel Oil (Taxation of Sales) Act, Samvat 2005.

Be it enacted by the Jammu and Kashmir State Legislature in the Sixtieth Year of the Republic of India as follows:-

1. Short title and commencement -

(1) This Act may be called the Jammu and Kashmir Taxation Laws (Amendment) Act, 2009.

(2) It shall come into force from the date of its publication in the Government Gazette.

CHAPTER II

Amendment to the Jammu and Kashmir General Sales Tax Act, 1962

10. Amendment of section 2 Act XX of 1962 -

In Section 2 of the Jammu and Kashmir General Sales tax Act, 1962 (hereinafter referred to as 'the Principal Act'), in sub section (2), clause (1) of explanation to clause (n), shall be omitted and clauses (2) and (3) thereof renumbered as clause (1) and (2)

11. Amendment of section 7 Act XX of 1962 -

In section 7 of the Principal Act, the full stop at the end of sub-section (3) shall be substituted by colon and thereafter the following proviso shall be inserted, namely:-

"Provided that the Commissioner may, subject to such conditions and restrictions as may be prescribed, exempt any such dealer or class of dealers from furnishing such returns or permit any such dealer-

(a) to furnish them for such different periods; or

(b) to furnish a consolidated return to all or any of the places of business of the dealer in the state for said period or for such different periods and to such authority, as he may direct.".

12. Insertion of section 16-AA in Act XX of 1962 -

After section 16-A of the Principal Act, the following section shall be inserted namely:-

"16-AA Liability under the Act to be first charge

Notwithstanding anything contained in any contract to the contrary, but subject to any provision regarding creation of first charge in any Central Act for the time being in force, any amount of tax, penalty, interest, sum forfeited, fine or any other sum, payable by a dealer or any other person under this Act, shall be the first charge on the property of the dealer or, as the case may be, person.".