The Assam Value Added Tax (Amendment) Act, 2014

Registered No.-768/97 THE ASSAM GAZETTE .~~q EXTRAORDINARY 2ti~ <fS{~~ ~ ~ PUBLISHED BYTHE AUTHORITY o:f~ 206~~, ~~, 19 ~~, 2014, 28 ~, 1936~) No. 206 Dispur, Friday, 19th September,2014, 28th Bhadra, 1936 (S. E.) GOVERNMENT OFASSAM ORDERS BYTHEGOVERNOR LEGISLATIVE DEPARTME T::: LEGISLATIVE BRANCH NOTIFICATION The 19th September, 2014 No. LGL.6/2003/93.- The following Act of the Assam Legislative Assembly which received the assent of the Governor is hereby published for general information. ASSAM ACT NO. IX OF 2014 (Received the assent ofthe Governor on 15th September, 2014) THE ASSAM VALUE ADDED TAX (AMENDMENT) ACT, 2014 894 THEASSAM GAZETTE, EXTRAORDINARY, SEPTEMBER 19, 2014 AN ACT further toamend the Assam Value Added Tax Act, 2003. Preamble. Whereas it is expedient further to amend the Assam Value Added Tax Assam Act, 2003, hereinafter referred to as the principal'Act, in the manner.hereinafter Act,VIII appearing; of2005 It is hereby enacted in the Sixty-fifth Year ofthe Republic of India as follows:- Shorttitle,extent 1.(1) This Act may be called the Assam Value Added Tax (Amendment) Act, and commence 2014. ment. (2) Itshall havethe likeextent asthe principal Act. (3) ltshall come into force atonce. Amendmentof 2. In the principal Act, in section 2, in clause (44), in Explanation II, for sub section2 clause(ii), the following shall besubstituted, namely :- "(ii)any amount allowed byseller ofgoods to the purchaserascash discount or commission or trade discount at the time ofsale ofgoods subject to the condition that such discount or cOinmission isshown inthe original invoice;". Amendmentof 3. In the principal Act, in section 10,after sub-section (3), the following new section 10 sub-section(4) shall beinserted, namely:- "(4) Notwithstanding anything contained in this Act, wherever any credit note is to be issued for discount or sales incentive by any registered dealer to another registered dealer after issuing invoice, the selling dealer shall pass the credit note without disturbing the tax component onthe price inthe original invoice.". Amendmentof 4. Inthe principal Act, insection 13,- section 13 (i) insub-section(I),clause(c)shall beomitted. (ii) after sub-section (2), the following new sub-section (3) shall be inserted,namely:- "(3) Notwithstanding anything contained in this Act, if after issuing invoice, any amount is allowed by a selling dealer to a purchaser as cash discount or commission or trade discount or sales incentive or otherwise and such amount is adjusted through credit note issued by such sellingdealer tothepurchaseror byany othermeans, the selling dealer shall not be allowed to reduce his output tax liability on account ofsuch deduction." S. M. BUZAR BARUAH, Secretary to the Government ofAssam, Legislative Department, Dispur. Guwahati :Printedand Published bythe Dy.Director(P& S),Directorateof Ptg.& Sty.Assam,Guwahati-21. ExGazetteNo.411 -300 + 100- 19-09 -2014. THE ASSAM GAZETTE ~~e.t EXTRAORDINARY ett~ ~ ~ <tS-{':iCif PUBLISHED BYTHE AUTHORITY i{~ I551ifxt~,~~,261.!1ita;, 2013,6Cf'qj~, I935~) No.I55 Dispur,Friday,26thApril,2013, 6thBaisakha, 1935 (S.E.) GOVERNMENTOFASSAM ORDERS BYTHE GOVERNOR LEGISLATIVE DEPARTMENT : : :LEGISLATIVE BRANCH NOTIFICATION The26th April,2013 No. LGL.6/2003179.- The following Act of the Assam Legislative Assembly which received the assent ofthe Governor is hereby published for general information. ASSAM ACT NO. VII OF 2013 (Received the assent ofthe Governor on 22ndApril, 2013) THEASSAM VALUEADDED TAX (AMENDMENT) ACT, 2013 AN ACT I I further toamend theAssam Value Added Tax Act, 2003. Preamble. Whereas it is expedient further to amend the Assam Value Added Tax Assam Act, 2003, hereinafter referred to as the principal Act, in the manner hereinafter ActVIII appearing; of2005. '?Ii It is hereby enacted in the Sixty-fourth Year of Republic of India as follows:- ,.I, Short title,extent 1.(1) This Act may be called'the Assam ValueAdded Tax (Amendment) Act, andcommence 2013. I" ," ',II ment. (2) Itshallhavethe likeextentas theprincipal Act. .:i 1 (3) Itshall come intoforceatonce.r ' :;. Amendmentor 2. In the principal Act, in section 12,for the words and punctuation mark, ",in section12. the circumstances in which no tax under section lOis leviable on the sale price ofsuch goods", appearing between the words "any person" and "shall be liable", the words"who is not a dealer registered under the Act" shall be substituted. - " Amendmentor • ,••• J. I l\ section14 3. Inthe principal Act,insection 14, ~I (i) in sub-section (3), forthe words "The input tax credit", appearing in the the beginning, the words "Subject to other provisions of this section be input tax credit"shall 'substinited; (ii) aftersub-section0', anew sub-section(3A)shall be inserted, namely:- "(3A)Notwithstanding anythingcontained inthis section, ifgoods, other thanthegoodsspecified inthe Fourth Schedule, which are taxable , at the rate offour percent or above under this Act, are sold inthe course ofinterstatetrade or commerceto a registered dealer at the Central ': ,,'concessional rate of,!ax'applicable under sub-section (I) of Act74 section 8 ofthe CentralSales Tax Act, 1956, the input tax credit or 1956. shall bereduced bythe amount oftax calculated.atthe rate oftwo percent ofthe purchase price excluding tax ofsuch'goods or the raw materials and packingmaterials used in the manufacture of such goods.Such inputtaxcredit shall bereduced inthe month in which such interstate sales take place."; (iii) insub-section(6),- (a) in clause (h), for the existing proviso, the following shall be substituted, namely:- "Provided that input tax credit may be allowed for the tax paid in excess ofthe amount oftax calculated at the rate offour percent on the purchase priceexcluding taxofgoods."; THEASSAM GAZETTE,EXTRAORDINARY, APRIL 26, 2013 1025 (b) in clause (i), for the existing proviso, the following shall be substituted,namely:- "Provided that input tax credit may be allowed for the tax paid in excess ofthe amount oftax calculated at the rate offour percent on the purchase price excluding tax of raw materials utilized in manufactureofgoods.". Amendmentof 4. Inthe principal Act,insection74,- section74. (i) insub-section (3), inclause(c),forthe existingthirdprovisothe following shall besubstituted,namely ;- "Providedalsothatonapplication ofthe dealer such authority may release such books ofaccounts, registers and other documents before expiry of ninety days with prior approval from the Commissioner if the amount involved in the Notice of Demand issued against such seizure by such authority does notexceed Rupees five lakhs and with prior approval from theGovernment iftheamount involvedexceedsRupees five lakhs."; (ii) in sub-section (5), in clause (b), for the words "thirty days", appearing between the words "a notice to show cause within a period of' and "of service ofsuchnotice", thewords"fifteendays" shall besubstituted. Amendment of 5. In the principal Act, in section 79, in sub-section (II), in clause (b), section79. Explanation-Ishallbeomitted. 6. In the principal Act, insection 89, in sub-section (1), in the proviso, for the Amendment of section89. words and sign "twenty-five percent", appearing between the words ''which is less than" and "ofthe amount", the words "one hundred percent" shall be substituted. Amendment of 7. Inthe principal Act,insection 103,- section 103. (i) insub-section(1),- (a) in clause (b), between the words "Cost Accountant" and "who", thewords"orCompany Secretary"shall be inserted; (b) inthe last paragraph, between the words "Cost Accountant" and "or", the punctuation mark and words ", Company Secretary" shallbe inserted; (ii) insub-section(2),- (a) inthe first paragraph, between the words "Cost Accountant" and "or", the punctuation mark and words ", Company Secretary" shallbeinserted; (b) in clause (ii), between the words "Cost Accountant" and "or", the punctuation markand words", Company Secretary"shall be inserted. MOHD. A. HAQUE, Commissioner and Secretary to the Govt. ofAssam, Legislative Department, Dispur.