(1) Notwithstanding anything contained in section 21, such class or classes of dealers as may be specified by the State Government by notification, who are liable to pay tax under section 15 andare registered under this Act, may, at their option, subject to such conditions and restrictions as may be specified in such notification, pay tax at such compounded rate, not exceeding four per centum, of the amount received or receivable as valuable consideration of works contract, as may be fixed in the notification for such year as may be specified therein:
Provided that no dealer shall be entitled to make payment of any tax at a compounded rate specified in the notification issued under this section in lieu of tax payable in accordance with the provisions of section 21 in respect of any year specified in such notification if his contractual transfer price exceeds five lakh rupees during the year immediately preceding the year so specified in such notification.
(2) The tax payable under sub-section (1) shall be paid by a dealer in such manner as may be specified in the notification referred to in that sub-section.
(3) If any dealer contravenes any of the conditions provided under this section or specified in the notification referred to in sub-section (1) with regard to payment of tax under this section in respect of any year, he shall not be eligible for availing himself of the benefit of payment of Payment of tax at compounded rates on works contract.
477 The West Bengal Sales Tax Act, 1994.
[West Ben. Act (Chapter III—Incidence and levy of tax and rate of tax.— Section 24, 25.)
tax under this section for such year, and the provisions with regard to the rates of tax as applicable under section 21 to his contractual transfer price, levy, collection, assessment and recovery of tax, penalty and interest under this Act shall apply to such dealer in respect of such year, and the tax paid at the compounded rate under this section, if any, shall be adjusted against the tax payable by him under section 21.
Tax-free sale of goods.
Power of State Government to amend Schedules.
24. No tax shall be payable under this Act on sale of goods specified in column (2) of Schedule I, subject to the conditions and exceptions, if any, set out in the corresponding entry in column (3) thereof.