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[Cites 0, Cited by 0] [Entire Act]

State of Kerala - Section

Section 7 in Kerala Finance Act, 2007

7. Amendment of Act 30 of 2004.

- In the Kerala Value Added Tax Act, 2003 (30 of 2004),-
(1)in section 6,-
(a)in sub-section (1),-
(i)for clause (a), the following clause shall be substituted, namely:-
"(a) in the case of goods specified in the Second and Third Schedules at the rates specified therein and at all points of sale of such goods within the State and in the case of aerated branded soft drinks excluding soda at the rate of twenty per cent at all points of sale within the State."
(ii)in the fourth proviso,-
(a)for the words, brackets and letters "Project (KRWSA) or OFD Works" the words, brackets and letters "Project (KRWSA) and OFD Works" shall be substituted;
(b)the following words shall be added at the end, namely:-
"and the beneficiary committees shall be entitled to receive payment even without taking registration under the Act.";
(iii)in the fifth proviso after the words "NCC Canteen" the symbol and words, "Indian Naval Canteen Service" shall be inserted;
(iv)after the fifth proviso, the following provisos shall be inserted, namely:-
"Provided also that in respect of sale of fuel and lubricants to foreign-going vessels, other than fishing vessels, the tax payable under clause (a) or (d) above shall, subject to conditions and restrictions as may be prescribed, be half per cent:Provided also that where sale of goods, other than petroleum products is to Railways, the tax payable under clause (d) above shall, subject to such conditions and restrictions as may be prescribed, be at four per cent.";
(b)in sub-section (2), in clause (c) after the words "if the cost of the work" the words "including the value of materials supplied by the awarded" shall be inserted;
(2)in section 8,-
(a)in clause (a), in sub-clause (iii), after the existing proviso the following provisos shall be inserted, namely:-
"Provided further that this sub-clause shall not be applicable to any works taken up after 31st March, 2005 as a subsequent part or phase of the original work for which option had been filed under sub-section (7) or (7A) of section 7 of Kerala General Sales Tax Act, 1963 (15 of 1963):Provided also that the rate under this sub-clause shall be applicable only for the payments received up to 31st March, 2007 in respects of all works other than works awarded by the Government.";
(b)in clause (b),-
(i)for item (i), the following item shall be substituted, namely:-
"(i) for each crushing machine of size not exceeding 30.48 cm x 22.86 cm = Rs. 50,000 per annum;"
(ii)for item (ii), the following item shall be substituted, namely:-
"(ii)for the each crushing machine of size exceeding 30.48 cm x 22.86 cm but not exceeding 40.64 cm and 25.40 cm = Rs. 1,60,000 per annum;"
(iii)for item (iii), the following item shall be substituted, namely:-
"(iii) for the each crushing machine of size exceeding 40.64 cm x 25.40 cm = Rs. 3,20,000 per annum;";
(iv)after item (iii), the following item shall be inserted, namely:-
"(iv) for each cone crusher Rs. 7,50,000 per annum";
(v)the following proviso shall be inserted, namely:-
"Provided that in the case of dealers, who opted to pay compounded tax under this clause, no separate assessment shall be made in respect of m-sand produced by them.";
(c)in clause (f),-
(i)in sub-clause (ii) for the words "four hundred per cent" the words "two hundred per cent" shall be substituted;
(ii)in sub-clause (iv) in the proviso beginning with the words "provided further that where a dealer" the words "or tax payable as per returns or accounts whichever is higher for the preceding year" shall be omitted;
(iii)after sub-clause (iv), the following sub-clauses shall be inserted, namely:-
"(v) Notwithstanding anything contained in this Act, where a dealer has not exercised the option under sub-clause (iv) within the period prescribed therein, and a dealer who has commenced business during the period from the 1st day of October, 2006 to 28th day of February, 2007, may at his option, instead of paying tax in respect of such goods in accordance with the provisions of section 6, pay tax at compounded rate per month from the commencement of the business at one hundred and fifty per cent of the average monthly tax paid or payable under this Act from the commencement of business to 28th of February, 2007;
(vi)Notwithstanding anything contained in this Act, where a dealer commences business during the period from 1st March, 2007 to 30th June, 2007 may at his option instead of paying tax in respect of such goods in accordance with the provisions of section 6, pay tax at compounded rate per month from the commencement of the business at one hundred and fifty per cent of the average monthly tax paid or payable under this Act from the commencement of business to 30th day of June, 2007;
(vii)Notwithstanding anything contained in sub-clause (ii) of clause (f) where a dealer who has started business during the year 2005-2006 has become ineligible for paying tax at compounded rates on account of excess of input tax credit over output tax payable by such dealer during that period, such dealer may, at his option, instead of paying tax in accordance with provisions of section 6, pay tax at the compounded rate per month from the 1st day of April, 2006 at one hundred and fifty per cent of the average monthly tax paid or payable under the Act from 1st day of April, 2006 to 30th day of September, 2006;
(viii)Notwithstanding anything contained in this Act, the compounded tax payable for the year 2007-2008 by a dealer who exercised option for compounding under this clause between 1st December, 2006 and 15th March, 2007 shall be one hundred and fifteen per cent of the compounded tax fixed for the year 2006-2007 or tax collected as per accounts, whichever is higher.".
(3)in section 11,-
(a)in sub-section (4), in the second proviso, after the words and figure "section 8 shall be eligible" the words and figures "with effect from 1st April, 2005" shall be inserted;
(b)after sub-section (5), the following proviso shall be inserted, namely:-
"Provided that where a dealer remits differential tax in accordance with the provisions of the Act, he may, for the period up to 31st March, 2007, issue debit note for the tax amount subsequently remitted, to the purchasing dealer to claim input tax credit to the extent of the tax covered in the debit note subject to such condition as may be prescribed.";
(4)in section 12, in sub-section (1), for the second proviso, the following proviso shall be substituted, namely:-"Provided also that where the goods in respect of which tax is payble under sub-section (2) of section 6 is sold in the State or in the course of interstate trade or used in the course of manufacture of taxable goods in the month in which it is purchased, the special rebate allowable in respect of such goods resold or sold in the course of interstate trade or used in the manufacture of goods liable to pay tax under this Act or Central Sales Tax Act, 1956 may be availed in the month itself.";
(5)in section 16,-
(a)in sub-section (1),-
(i)for the third proviso, the following proviso shall be substituted, namely:-
"Provided also that in the case of casual trader, the minimum registration fee to be paid shall be two thousand five hundred rupees per month and the maximum period of validity of registration certificate shall be three months from the date of issue of certificate.";
(ii)after the fourth proviso, the following proviso shall be inserted, namely:- "Provided also that a person shall not be entitled for more than one registration under this Act.";
(b)to sub-section (2), the following proviso shall be inserted, namely:-
"Provided that the date of effect of the registration shall be the date of filing of the valid application before the registering authority.";
(6)in section 20,-
(a)after sub-section (2), the following sub-section shall be inserted, namely:-
"(2A). Dealers whose output tax liability per annum is rupees twenty five lakhs or more on account of taxable sale in the State and every wholesale dealer, distributor and dealers holding van sale permit, shall file their returns as well as purchase and sale lists electronically in addition to the hard copy to be filed along with the returns.";
(b)in sub-section (3), the following words shall be added at the end, namely:-
"except for considering the eligibility for payment of tax under sub-section (5) of section 6";
(7)in section 22, sub-section (7) shall be omitted;
(8)in section 25, in sub-section (1), after the words "has escaped assessment to tax in any year" the words "or return period" shall be inserted;
(9)in section 30, after sub-section (2), the following proviso shall be inserted, namely:-"Provided that the dealers who are paying tax under sub-section (5) of section 6 are entitled to recover from the buyers the amount of tax paid by him on the purchase value of such goods at the time of purchase.";
(10)in section 40 A, the existing section shall be renumbered as sub-section (1) and after the sub-section (1) as so renumbered, the following sub-sections shall be inserted, namely:-"(2) Where a dealer effects taxable sale, he shall furnish the name and address of the purchaser in the sale bill/invoices, and where the sale is to a dealer, the address shall include TIN or PIN, as the case may be.
(3)Where the TIN or PIN details are not furnished as specified in sub-section (2), such dealer shall be liable for payment of the tax on the Maximum Retail Price (MRP) of such goods, where it is ascertainable.".
(11)in section 42, the existing section shall be renumbered as sub-section (1) and after sub-section (1) as so renumbered, the following sub-section shall be inserted, namely:-"(2) Where any dealer detects any omission or mistake in the annual return submitted by him with reference to the audited figures, he shall file revised annual return rectifying the mistake or omission along with the audit certificate. Where, as a result of such revision, the tax liability increases, the revised return shall be accompanied by proof of payment of such tax, interest due thereon under sub-section (5) of section 31, and penel interest, calculated at twice the rate specified under sub-section (5) of section 31:Provided that this sub-section shall not apply to a dealer against whom any penal action is initiated in respect of such omission or mistake under any of the provisions of this Act.";
(12)in section 55, in sub-section (1), clause (a) of the second proviso shall be omitted.
(13)in the Schedules,-
(a)in the First Schedule,-
(i) after serial number 4 in column (1) and theentries against it in columns (2) and (3), the following serialnumber and entries shall respectively be inserted, namely:-  
"4A. (1) Beedi, Beedi Tobacco 2403-10-31
(2) Cheroots 2402-10-20.";
(ii) after serial number 12A and the entries againstit in columns (2) and (3), the following serial numbers andentries shall respectively be inserted, namely:-  
"12B Coconut Oil 1513.11.00
12C Coconut Oil cake 2306.50";
(iii) after serial number 12C as so inserted, thefollowing serial number and entries shall be inserted, namely:-  
"12D Copra 1203.00.00"  
(iv) after serial number 23 in column (1) and theentries against it in columns (2) and (3) the following serialnumber and entries shall be inserted, namely:-  
"23A. Hand-loom cloth, hand-loom bed-sheet and pillowcover ******** ";
(v) for serial number 27 and the entries against itin columns (2) and (3), the following shall be substituted,namely:-  
"27. Khadi Cloth, Garments and Made ups ******* ";
(vi) in serial number 30, for the entries under theheading 'Life saving Drugs' in columns (2) and (3), the followingentries shall respectively be substituted, namely:-  
  "Dineal solution required for continuousAmbulatory peritoneal Dialysis treatment of kidney patients andaccessories required for the treatment." xxx.
(vii) serial number 52 and the entries against it incolumns (2) and (3) shall be omitted.  
(viii) for serial number 56 and the entries against itin columns (2) and (3) the following serial number and entriesshall be substituted, namely:-  
  "56 Products manufactured and sold byKudumbasree units under brand name as notified by Government fromtime to time. xxx" ;
(b) in the Third Schedule,-  
(i) Serial number 8 and entries against it incolumns (2) and (3) shall be omitted;  
(ii) in serial number 13, after sub-item (g) of item(3) and the entries against it in columns (2) and (3) thefollowing shall be inserted, namely:-  
  "(h) Other xxx"
(iii) after serial number 19 and the entries againstit in columns (2) and (3) the following serial number and entriesshall respectively be inserted, namely:-  
"19A. Cashew Kernel xxx" ;
(iv) after serial number 28, and the entries againstit in columns (2) and (3) the following serial number and entriesshall respectively be inserted, namely:-  
"28A. Compact Fluorescent Lamps ****** " ;
(v) in serial number 36,-  
(a) in the heading after the words "mosquitorepellents and those specifically mentioned in First Schedule"the words "and those notified under clause (d) ofsub-section (1) of section 6" shall be inserted;  
(b) after item (25) and the entries against it incolumns (2) and (3) the following item and the entries shallrespectively be inserted, namely:-  
"(26) Life Saving medicine
  (1) Vaccines of human medicine  
  (i) Single Vaccine  
  (a) for cholera and typhoid 3002.20.11
  (b) for hepatitis 3002.20.12
  (c) for tetanus 3002.20.13  
  (d) for polio 3002.20.14
  (e) for tuberculosis 3002.20.15
  (f) for rabies 3002.20.16
  (g) for Japanese Enceephalitis 3002.20.17
  (h) for whooping cough (pertusis) 3002.20.18
  (i) Others 3002.20.19
  (ii)Mixed vaccines  
  (a) for diphtheria, pertusis and tetanus (DPT) 3002.20.21
  (b) for diphtheria and tetanus 3002.20.22
  (c) for measles, mumps and rubella (MMR) 3002.20.23
  (d) for typhoid, para-typhoid (TAB) or typhoidpara-typhoid-cholera (TABC) 3002.20.24
  (e) Others 3002.20.29
  (2) Vaccines for veterinary medicine 3002.30.00
  (3) Animal blood prepared for therapeutic,prophylactic or diagnostic uses 3002.90.20
  (4) Cultures of micro organisms (excludingyeast) 3002.90.30
  (5) Toxins 3002.90.40
  (6) Anti sera  
  (a) for diphtheria 3002.10.11
  (b) for tetanus 3002.10.12
  (c) for rabies 3002.10.13
  (d) for snake venom 3002.10.14
  (e) Others 3002.10.15
  (7) Hemoglobin, blood globulins and serumglobulins 3002.10.20
  (8) Insulin injection 3002.31.10
  (9) Cyclosporine  
  (10) Antiretroval Drugs (HIV patients)  
  (11) Glevce Capsules (For treatment of Bloodcancer) ***** " ;
(vi) in serial number 38, item (8) and the entriesagainst it in columns (2) and (3) shall be omitted;  
(vii) in serial number 55, in the entries against itin column (2), the following shall be added at the end, namely:-  
  "at the point of sale by dealers whoseannual turnover does not exceed rupees two crores" ;  
(viii) for serial number 69 and the entries against itin columns (2) and (3), the following serial number and entriesshall be substituted, namely:-  
"69 IT Products  
  (1) Word processing machines, Electronictypewriters  
  (a) Word processing machines 8469.00
  (b) Electronic typewriters 8469.00.20
  (2) Microphones, multimedia speakers, headphoneetc.  
  (a) Microphones 8518.10.00
  (b) Multimedia Speakers 8518.22.00
  (c) Headphone etc. 8518.30.00
  (3) Telephone answering machines 8519.50.00
  (4) discs, tapes, solid state non-volatilestorage devices, "Smart card" and other media for therecording of sound or of other phenomena, whether or notrecorded, including matrices and masters for the production ofdiscs, but excluding products of Chapter 37 8523
  (5) IT software of any media 8523.80.20
  (6) Transmission apparatus other than apparatusfor radio or T. V. broadcasting  
  (a) Base stations 8517.61.00
  (b) Machines for the reception, conversion and transmission orregeneration of voice, image or other data including switchingand routing apparatus 8517.62
  (7) Radio communication receivers, Radio Pagers  
  (a) Radio Pagers 8527.99.11
  (b) Demodulators 8527.99.12
  (c) Others 8527.99.19
  (8) Aerials, antennas and parts 8528
  (9) LCD Panels/LED Panels and Parts  
  (a) LCD Panels/LED Panels 8531.20.00
  (b) Parts 8531.90.00
  (10) Electrical capacitors, fixed, variable andparts  
  (a) Electrical capacitors, fixed, variable 8532
  (b) Parts 8531.80.00
  (11) Electronic calculators 8470.10.00
  (12) Electrical resistors 8533
  (13) Printed Circuits 8534.00.00
  (14) Switches, connectors relays for up to 5amps 8536.10.10
  (15) DATA/Graphic Display tubes, other thanPicture tubes and parts  
  (a) Colour 8540.40.00
  (b) Black & White or other monochrome 8540.50.00
  (c) Others 8540.60.00
  (16) Diodes, transistors & similarsemi-conductor device 8541
  (17) Electronic integrated circuits andMicro-assemblies 8542
  (18) Signal Generators and parts  
  (a) Signal Generators 8543.20
  (b) Parts 8543.80.00
  (19) Optical fibre cables made up ofindividually sheathed fibres, whether or not assembled withelectric conductors or fitted with connectors 8544.70.00
  (20) Optical fibre and optical fibre bundles,cables, 9001.10.00
  other than those of heading 8544.70  
  (21) Liquid Ctystal devices, flat panel displaydevices and parts  
  (a) Liquid Crystal devices, flat panel display devices 9013.80.10
  (b) Parts 9013.9
  (22) Computer systems and peripherals,Electronic diaries  
  (a) Computer systems and peripherals 8471
  (b) Electronic diaries 8470.90.10
  (c) Printers 8443.32
  (23) Cathode ray oscilloscopes, spectrumanalyzers, signal analyzers  
  (a) Cathode ray oscilloscopes 9030.20.00
  (b) Spectrum analyzers  
  (c) Signal analyzers  
  (24) Parts and Accessories of HSN 84.69, 84.70 &84.71 84.73
  (25) DC Micro-motors, Stepper motors of 37.5Watts.  
  (a) Micro motors 8501.10.11
  (b) Stepper motors 8501.10.12
  (26) Parts of HSN 85.01 8503
  (27) Uninterrupted power supply 8504.40
  (28) Permanent magnets and articles 8505
  (29) Electrical apparatus for line telephony orline telegraphy  
  (a) Line telephone sets/cordless hand sets 8517.11
  (b) Telephones for cellular networks (Mobile Phone) or for otherwireless networks 8517.12
  (c) Other 8517.18
  (d) Videophones 8517.62.90
  (e) Facsimile machines  
  (I) capable of connecting to an automatic data processing machineor to a network 8443.32.60
  (II) not capable of connecting to an automatic data processingmachine 8443.39.70
  (f) Teleprinters 8517.32.90
  (g) Attachments for telephones 8517.69.70
  (h) Subscriber end equipment 8517.69.50
  (i) Set top boxes for gaining access to the internet 8517.89.60
  (30) Parts of HSN heading No. 8517 8517.90";  
(ix) in serial number 79, for item (3) and theentries against it in columns (2) and (3), the following shall besubstituted, namely:-  
  "(3) Cardiac Stents xxx";
(x) in serial number 87, for the entries in column(2) the following entries shall be substituted, namely:-  
  "(1) Rubber Hawai chappals xxx
  (2) Footwear of all kinds other than the above, whose MRP doesnot exceed Rs. 200 and its MRP is embossed on the sole of thefootwear in the case of molded plastic footwear, and in othercase, indelibly marked. xxx
  (3) Parts of footwear including uppers 6406.20.00";
  (xi) in serial number 93, item number, number(5) and the entries against it in columns (2) and (3), shall beomitted;  
(xii) in serial number 94, item number (10) and theentries against it in columns (2) and (3), shall be omitted;  
(xiii) in serial number 97, in the entries in column(2), the following shall be inserted at the end, namely:-  
  "except granite metal produced with the aidof crushing machines.";  
(xiv) in serial number 137, after item (12) and theentries against it in columns (2) and (3), the following item andentries shall respectively be inserted, namely:-  
  "(13) Choodarapetti ****** "
  (c) in List A,-  
  (i) in serial number 111A, for the entries against it in column(3) the following entry shall be substituted, namely:-  
  "2907-11-10 " ;  
  (ii) after serial number 143 and the entries against it incolumns (2) and (3), the following serial number and entriesshall be inserted, namely:-  
  "144. Soft wood, namely kattadi, vatta, pala, matti andelavu. ****** ".