West Bengal Finance Act, 2016
No: 6 Dated: Jul, 28 2016
THE WEST BENGAL FINANCE ACT, 2016
West Bengal Act VI of 2016
An Act to amend the West Bengal State Tax on Professions, Trades, Callings and Employments Act, 1979, the Indian Stamp Act, 1899, in its application to West Bengal, the West Bengal Sales Tax Act, 1994, and the West Bengal Value Added Tax Act, 2003.
WHEREAS it is expedient to amend the West Bengal State Tax on Professions, Trades, Callings and Employments Act, 1979, the Indian Stamp Act, 1899, in its application to the State of West Bengal, the West Bengal Sales Tax Act, 1994, and the West Bengal Value Added Tax Act, 2003, for the purposes and in the manner hereinafter appearing;
It is hereby enacted in the Sixty-seventh Year of the Republic of India, by the Legislature of West Bengal, as follows:—
1. Short title and commencement:- (1) This Act may be called the West Bengal Finance Act, 2016.
(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.
2. Amendment of West Ben. Act VI of 1979:- In the West Bengal State Tax on Professions, Trades, Callings and Employments Act, 1979,—
(1) in section 7, in sub-section (4a), after the second proviso the following proviso shall be inserted:—
"Provided also that the assessment in respect of the year or part of the year ending on or before the 31st day of March, 2014, shall, notwithstanding the provisions contained in this sub-section, be made on or before the 31st day of December, 2016:";
(2) in section 9,—
(a) in sub-section (1), for the words "an employer (not being an officer of Government)", the words "an employer" shall be substituted;
(b) in sub-section (2), the following proviso shall be inserted:—
"Provided that the State Government may reduce or waive the amount of interest payable by the employer (being an officer of Government), if he is satisfied that—
(a) the default in the payment of the amount on which interest is payable, has been due to the circumstances beyond the control of such an employer; and
(b) the payment of such interest would cause genuine hardship to such an employer.";
(3) in the Schedule,—
(a) in the entry in item (i) of column (2) against serial No. 1 in column (1), for the words and figures "Not exceeding Rs. 8,500", the words and figures "Not exceeding Rs. 10,000," shall be substituted;
(b) the entry in item (ii) of column (2), and the corresponding entry of column (3), against serial No. 1 in column (1), shall be omitted.
3. Application and amendment of Act 2 of 1899:- (1) The Indian Stamp Act, 1899 (hereinafter referred to as the principal Act) shall, in its application to West Bengal, be amended for the purposes and in the manner hereinafter provided.
(2) In Schedule lA to the principal Act, in article 43,—
(a) in item (a), in the entries under heading "Description of Instruments", for the words "of any goods exceeding in value twenty rupees", the words "of any goods including currency exceeding in value twenty rupees" shall be substituted;
(b) in item (aa), in the entries under heading "Description of Instruments", for the words "of any goods exceeding in value twenty rupees but not delivered", the words "of any goods including currency exceeding in value twenty rupees but not delivered" shall be substituted;
(c) in item (ab), in the entries under heading "Description of Instruments", for the words "of any goods relating to future and options trading", the words "of any goods including currency relating to future and options trading" shall be substituted;
(d) in item (ac), in the entries under heading "Description of Instruments", for the words "of any goods relating to forward contract of commodities traded through an association or otherwise", the words "of any goods including currency relating to forward contract of commodities traded through an association or otherwise" shall be substituted;