The Jharkhand Value Added Tax (Amendment) Act, 2015

(Jharkhand Act, 07, 2015)

An Act to amend Jharkhand Value Added Tax Act, 2005 (Jharkhand Act 05, 2006) Be it enacted in the sixty sixth year of the Republic of India by the state legislature in the following manner-

1. Short title, extent and commencement –

(i) This Act may be called the Jharkhand Value Added Tax (Amendment) Act, 2015.

(ii) It shall extend to the whole of the State of Jharkhand.

(iii) It shall come into force w.e.f. date of its publication in the official gazette.

2. Amendment in Section- 2

(a) In clause (xxix) of section 2, after the words "purchase of goods" and before the words "in the course of business", the words "viz purchases debited to profit and loss account" shall be added.

3. Amendment in Section- 18

a) In clause (iii) of sub-section (4), after the words 'trade and commerce', the words 'falling under sub-section (1) of Section 8 of the Central Sales Tax Act, 1956 (74 of 1956)' shall be added.

b) In clause (ix) of sub- section (8), in the exiting proviso, after the words 'in excess of', the numerical 4 % shall be substituted by 5%.

c) In the existing sub-section (8), after clause (xiv), a new clause as (xv) shall be added in the following manner:-

(xv) 'On the purchase of goods sold as such or used in the manufacture of other goods and sold in course of interstate trade or commerce falling under sub-section (2) of Section 8 of Central Sales Tax Act, 1956 (Central Act, 74 of 1956)'

d) In the existing sub section (8) after the clause (xv), a new clause as (xvi) shall be added in the following manner:-

(xvi) Goods lost or damaged and not eventually sold.

e) In the existing sub section (8) after the clause (xvi), a new clause as (xvii) shall be added in the following manner:-

'(xvii) in case the amount of Input Tax Credit on any purchase of goods shall exceed the amount of tax in respect of the same goods actually paid, if any, under this Act into Government Treasury'.

4. Amendment in Section- 57

In sub-section (1) of section 57, after the words, 'any sales or purchases', the words 'of any class of goods' shall be added.

5. Amendment in Section -74

Existing sub-section (2) of Section 74 shall be substituted in the following manner:-

" In order to achieve the objectives of electronic methods and automation, the Commissioner may evolve a criteria and direction for the purpose of e-governance from time to time."

6. Amendment in section -80

The exiting Proviso after sub section (4) of Section 80 shall be substituted in the following manner:-

'Provided the Commissioner, on application for revision of any order of assessment or penalty or both passed by the prescribed authority under this Act, may direct such dealer/person to deposit a sum not exceeding 10% of the tax assessed or the penalty imposed or both'.

By order of the Governor of Jharkhand,

B.B. Mangalmurti,

Secretary-cum-L.R.

Law (Judicial) Department,

Govt. of Jharkhand, Ranchi.