(1) The proceeds of the entry tax minus cost of collection, shall be credited and · appropriated to the Fund constituted under this section by notification in the Official Gazette and shall be utilized exclusively for the development of infrastructures or amenities to. facilit.ate . trade, commerce and intercourse and it shall inclucte the following:-
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(a) cortstrnction, development and maintenance of roads and bridges for linking the market and commercial areas to their hinterlands, , ·
(b) creation, development and maintenance of infrastructure for supply., qf electrical energy, water supply and sanitation and 1 ,other infra'structure for furtherance of trade, commerce and intercourse, ( c) any other P\lrpose connected with the development of trade and e;ommerce or for facilities relating thereto which the State Oovernment may specify by notification, l)1 · ( d) providing finance, aids, grants and subsidies to local bodies ' and ' goverinhent agencies· f~r the purposes specified in clauses (a); (b)'and (c).
(2) The amount realised' as entry tax shall not be used for the purposes othe.r than those specified 'in sub-section (l ).
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453.
Assam ActVIIl of2003.
Assam Act VIII of2003.
454 Power of Government to make rules.
THE ASSAM GAZETTE, EXTRAORDINARY, APRIL 17, 2008
(3) The State Government shall transfer the proceeds of entry tax already colkcted under Assam Entry tax Act, 2001, after deducting therefrom, the sum utilized under clause (a) to (d) of sub-section (1) to the fund constituted under this Act and such amount on being transferred to the fund shall be utilized for the purposes specified in sub-section (l).
( 4) The tax. under this Act shall be continued to be levied till such time as is required to improve the infrastructure or amenities to facilitate trade and commerce.