Assam Value Added Tax (Amendment) Act, 2007
No: 10 Dated: Mar, 30 2007
THE ASSAM VALUE ADDED TAX:(AMENDIVIENT) ACT, 2007
ASSAM ACT NO. X OF 2007
An Act further to amend the Assam Value Added Tax Act, 2003.
Preamble:- Whereas it is expedient further to amend the Assam Value Added Tax Act, 2003, hereinafter referred to as the principal Act, in the manner hereinafter appearing;
It is hereby enacted in the Fifty,eighth Year of the Republic of India as follows:-
1. Short title, extent and commencement:- (1) This Act may be called the Assam Value Added Tax (Amendment) Act, 2007.
(2) It shall have the like extent as the principal Act.
(3) It shall come into force at once.
2. Amendment of section 3:- In the principal Act, in section 3, in sub-section (2), between the words "authorities" and "to", the words "in various capacities" shall be inserted.
3. Amendment of section 26:- In the principal Act, in section 26, after sub-section (2), a new sub-section (3) shall be inserted, namely,--
"(3) Subject to such conditions as it 1irny impose, the Government may, if it is necessary so to do in the . public interest, by notification in the Official Gazette by way of a scheme o:r otherwise, exempt a class of dealers or persons specified in the said notification from payment of the whole or any part of the penalty payable under the provisions of this section and such exemption shall take effect from the date of· publication of the notification in the Official Gazette."
4. Insertion of section 31 B:- In the principal Act, after section 3 lA, a new section 31 B shall be inserted, namely:-
31B "Consumer Welfare Fund :- (l) There shall be established by the Government a fund, to be called the Assam Consumer Welfare Fund.
(2) There shall be credited to the fund in such manner as may be prescribed, -
(a) an amount of rupees one lakh, to be initially paid by the Go'.'emment by way of grant for the purpose of the fund: and
(b) all amount forfeited under sub .. section ( 4) of section 31 and all penalty paid pursuant tO sub-·section (5) of the said section except any amount . refwided under the said section after deducting therefrom the expenses of collection and recovery as determined hy the Government.
(3) The moneys credited to the fund shall be uti lised by the Government for the welfare of the consumers in accordance with such rules and the accounts and othe;r relevant records ln relation to the fund shall be maintained in such manner as may be prescribed."
5. Amendment of section 54:- · In the principal Act, in section 54, in sub-section (1), in the existing proviso, the punctuation mark ","appearing at the end shall be substituted by punctuation mark ":"and thereafter the following provisos shall be inserted, namely: ..
"Provided further that when exemption is granted ill the form of remission, the dealer shall be entitled to retain the part or whole of tax ·collected by way of subsidy from the Government subject to maximum permissible monetary limit and/or time limit aud other conditions as may be.prescribed in the appropriate scheme:
Provided also that the Government may, if it is necessary so to do in the public interest, by notification in the Official Gazette, exempt a part of sale price specified in the said notification from payment of tax payable under the provision of the Act."