EXTRACT OF THE WEST BENGAL FINANCE ACT, 2007.
NOTIFICATION No.480-L.- Dated 31st March, 2007.-
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 2007
THE WEST BENGAL FINANCE ACT, 2007.
[Passed by the West Bengal Legislature.]
[Assent of the Governor was first published in the Kolkata Gazette,
Extraordinary, of the 31st March, 2007.]
An Act to amend the Indian Stamp Act, 1899, in its application to West Bengal, the Bengal Agricultural Income-tax Act, 1944, the West Bengal Duty on Inter-State River Valley Authority Electricity Act, 1973, the West Bengal State Tax on Professions, Traders, Callings and Employments Act, 1979, the West Bengal Taxation Tribunal Act, 1987, the West Bengal Sales Tax Act, 1994, the West Bengal Sales Tax (Settlement of Dispute) Act, 1999, the West Bengal Transport Infrastructure Development Fund Act, 2002 and the West Bengal Value Added Tax Act, 2003.
WHEREAS it is expedient to amend the Indian Stamp Act, 1899,(2 of 1899.) in its application to West Bengal, the Bengal Agricultural Income-tax Act, 1944,(Ben. Act IV of 1944.) the West Bengal Duty on Inter-State River Valley Authority Electricity Act, 1973,(West Ben. Act VII of 1973.) the West Bengal State Tax on Professions, Trades, Callings and Employments Act, 1979,(West Ben. Act VI of1 979) the West Bengal Taxation Tribunal Act, 1987,9West Ben. Act VlI of 1987) the West Bengal Sales Tax Act, 1994, (West Ben. Act XLIX of 1994) the West Bengal Sales Tax (Settlement of Dispute) Act, 1999,West Ben. Act IV of 1999 the West Bengal Transport Infrastructure Development Fund Act, 2002 (West Ben. Act XXI of 2002) 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 Fifty-eighth Year of Republic of India, by the Legislature of West Bengal, as follows:-
1. Short Title and Commencment
(1) This Act may be called the West Bengal Finance Act, 2007.
(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
7. Amendment of West Ben. Act XLIX of 1994
In the West Bengal Sales Tax Act, 1994,-
(1) in section 2, in clause (13), for the words "other than actionable claims, stocks, shares or securities", the words "other than lottery tickets, actionable claims, stocks, shares or securities" Shall be substituted;
(2) in section 8B,-
(a) in sub-section (1), in clause (a), for the words "within one hundred twenty days from the date of coming into force of this section", the words "within two hundred and forty days from the date of coming into force of this section or subject to the satisfaction of the Chairman, within such further time as may be allowed by him" shall be substituted;
(b) in sub-section (2), in the Explanation, for clause (a), the following clause shall be substituted:-
"(a) an appeal or revision under any of the Act, or Acts so repealed, or an appeal under section 79, or a revision under section 80, section 81 or section 82, against an order of assessment passed on or before the 30th day of June, 1997, pending till the date of coming into force of this section;";
(3) in section 32, in sub-section (3), for the words "and the excess interest paid, if any, shall be refunded.", the words and figures "for each British calendar month of default from the first day of the month next following the date specified in the notice originally issued under section 47 for payment thereof up to the month preceding the month of full payment of such tax or up to the month preceding the month of commencement of proceedings under section 52, whichever is earlier, upon so much of the amount of modified tax as remains unpaid, and the excess interest paid, if any, shall be refunded. shall be deemed to have been substituted with effect from the 1st day of May, 1995;
(4) after section 35, the following section shall be deemed to have been inserted with effect from the 1st day of May, 1995:-
35A. Validation of interest charged
Notwithstanding anything contained in any judgment, decree or order of any Court, Tribunal or Authority, no levy of interest under sub-section (3) of section 32 of the Act from the first day of the month next following the date specified in the notice originally issued under section 47 for payment of tax due, shall be deemed to be invalid or ever to have been invalid, and accordingly-
(a) all such interest levied or collected or purporting to have been levied or collected under this Act shall be deemed always to have been validly levied or collected ill accordance with this Act;
(b) no suit or other proceeding shall be maintained or continued in any Court or before any Tribunal or Authority for the refund of, and no enforcement shall be made by any Court, Tribunal or Authority of any decree or order directing the refund of, any such interest which has been collected;
(c) recoveries shall be made in accordance with the provisions of this Act, of all amounts which would have been collected thereunder as interest as aforesaid as if this section had been in force at all material times.";
(5) in section 46A,-
(a) in sub-section (3), for the words, figures and letters"on or before 31st day of January, 2007", the words, figures and letters "on or before 30th day of April, 2007" shall be substituted;
(b) in sub-section (4),-
(i) in clause (a), for the words "within six months", the words "within twelve months" shall be substituted;
(ii) clause (b) shall be omitted;
(6) in section 79,-
(a) in sub-section (1), for the words, figures and brackets "any person appointed under sub-section (1) of section 6 to assist the Commissioner as may be prescribed to exercise the power under this section", the words, figures and brackets "any person appointed under sub-section (I) of section 3 to assist the Commissioner as may be prescribed to exercise the power under this section" shall be substituted;
(b) sub-section (3) shall be omitted;
(7) in section 107, in clause (r),-
(a) for the words "Acts so repealed,", the words "Acts so repealed:" shall be substituted; and
(b) the following proviso shall be added:-
"Provided that where any appeal or revision filed against an order of assessment passed under the Act, or Acts so repealed, is pending on the 30th day of June, 1997, the dealer, may, at its option, instead of getting such appeal or revision disposed of in accordance with the provisions of the Act or Acts so repealed, get the case settled by the West Bengal Sales Tax Settlement Commission established under section 8A of the Act.";
(8) in Schedule IV, in PART A, serial No.2 in column (1) and the entry relating thereto in column (2) shall be omitted.