EXTRACT OF THE KERALA FINANCE BILL, 2021

(As Passed by the Assembly) (dated 12.08.2021)

A

BILL

to give effect to certain financial proposals of the Government of Kerala for the Financial Year 2021-2022.

Preamble.- Whereas, it is expedient to give effect to certain financial proposals of the Government of Kerala for the Financial Year 2021-2022.

Be it enacted in the Seventy-second Year of Republic of India as follows:-

1. Short title and commencement.-

(1) This Act may be called the Kerala Finance Act, 2021.

(2) Save as otherwise provided in this Act,-

(a) Sub-sections (3) and (4) of section 8 shall be deemed to have come in ter force on the 1st day of August, 2021.

(b) sub- section (5) of section 8 shall be deemed to have come into force on the 1st day of June, 2021, remaining provisions of section 8 shall come into force on such date as the Government may, by notification in the official Gazette, appoint:

Provided that different dates may be appointed for different provisions of this section and any reference in any such provision to the commencement of this Act shall be construed as a reference to the coming into force of that provision.

(c) the remaining sections of this Act, shall be deemed to have come into force on the 10th day of June, 2021.

7. Amendment of Act 30 of 2004.-

In the Kerala Value Added Tax Act, 2003 (30 of 2004), in the SCHEDULES, in the third Schedule, after serial number 98A and the entries against it in columns (2) and (3), the following serial numbers and entries shall, respectively, be inserted, namely:-

11. Validation.-

(1) Notwithstanding the lapse of the Kerala Finance Bill, 2021 (Bill No. 280 of the Fourteenth Kerala Legislative Assembly) (hereinafter referred to as the said Bill) and the cesser of force of law of the declared provisions of the said Bill, anything done or any action taken, including levy and collection of tax or duty, during the period from the 1st day of April.. 2021 to the 9th day of June, 2021, by virtue of the declared provisions contained in the said Bill, under the Kerala Surcharge on Taxes Act, 1957 (11 of 1957) or under the Kerala Court Fees and Suits Valuation Act, 1959 (10 of 1960) or under the Kerala General Sales Tax Act, 1963 (15 of 1963) or under the Kerala Building Tax Act, 1975 (7 of 1975) or under the Kerala Agricultural Income Tax Act, 1991 (15 of 1991) or under the Kerala Value Added Tcix Act, 2003 (30 of 2004) or under the Kerala Finance Act, 2019 (5 of 2019) or under the Kerala Finance Act, 2020 (7 of 2020) (hereinafter referred to as the 'respective Acts'), as they stand amended by the said Bill, shall be deemed to be and to have always been, for all purposes, validly and effectively done or taken under the provisions of the respective Acts, as if the said amendmen ts had been in force at all material times.

(2) Notwithstanding anything contained in the respective Acts during the period from 1st day of April, 2021 to the 9th day of June, 2021 during which the declared provisions contained in the said Bill was in force, anything done or any action taken by virtue of said provisions of the said Bill, shall be deemed to have been validly done or taken under the respective Acts and no action shall lie against any dealer or authority on the ground of short levy or refund of excess tax or duty and tax or duty collected, if any, by a dealer or an authority, as the case may be, shall be paid over to the Government.