(1) The tax payable by a dealer, who is liable to pay tax under section 14, shall be levied at the rate of twelve decimal five zero per centum of such part of the contractual transfer price of goods during any period which remains after deducting therefrom his contractual transfer price during that period on—
(a) contractual transfer of goods, sales of which are declared tax-free under section 21;
(b) such other contractual transfers as may be prescribed.
(2) Where a dealer enters into a contract with, and engages, another dealer for execution of a works contract, whether in part or in full, the contractual transfer price relating to the execution of such works contract executed by that other dealer shall, subject to the production of the proof of payment of tax by that other dealer, be deducted from the contractual transfer price of the dealer who engages the other dealer for execution of the works contract.
19. The State Government may, by notification, fix the rate of tax, with prospective or retrospective effect, not exceeding thirty per centum of the turnover of sales of goods specified in Schedule D, and different rates may be fixed for different items of such goods.
20. The State Government, after giving by notification not less than fourteen days' notice of its intention so to do, may, by like notification, with prospective or retrospective effect, add to, amend, or alter any Schedule to this Act other than Schedule A.
21. No tax shall be payable under this Act on sale of goods specified in column
(2) of Schedule A, subject to the conditions and exceptions, if any, set out in the corresponding entry in column (3) thereof.
Power of the State Government to fix rates of tax on sale of goods specified in Schedule D.
Power of the State Government to amend Schedules.
Tax-free sale of goods.
16 THE KOLKATA GAZETTE, EXTRAORDINARY, DECEMBER 27, 2004 [PART III The West Bengal Value Added Tax Act, 2003 Input tax credit or rebating of input tax by a registered dealer.
(Chapter [IL—Incidence and levy of tax.—Section 22.)