Section 16(3B) in West Bengal Value Added Tax Act, 2003
(3B)Notwithstanding anything contained in sub-section (1) or sub-section (2) , a registered dealer having liability to pay tax under the Act, who makes sale by way of transferring the right to use any goods as mentioned in sub-clause (c) of clause (39 of section 2, may, at his option, pay tax, in lieu of tax payable under sub-section (2) , for each tax period of a year, at such compounded rate not exceeding two per centum as the State Government may, by notification, specify, on the turnover of sales of such goods on which tax is payable, subject to such restrictions and conditions as may be prescribed:Provided that such dealer shall not be entitled to issue tax invoice referred to in clause (48) of section 2 of the Act.] [Inserted w.e.f. 01.08.2006 by S. 12(6) (b) of WB Act XVIII of 2006.]
