THE KARNATAKA VALUE ADDED TAX (SECOND AMENDMENT) ACT, 2012
(Received the assent of the Governor on the thirtieth day of July, 2012)
KARNATAKA ACT NO. 27 OF 2O12
(First published in the Karnataka Gazette Extra-Ordinary on the Thirty first day of July, 2012)
An Act further to amend the Karnataka Value Added Tax Act, 2003.
Whereas it is expedient further to amend the Karnataka Value Added Tax Act, 2003 (Karnataka Act 32 of 2004) for the purposes hereinafter appearing;
Be it enacted by the Karnataka State Legislature in the Sixty third year of the Republic of India, as follows.-
1. Short title and commencement.- (1) This Act may be called the Karnataka Value Added Tax (Second Amendment) Act, 2012.
(2) It shall come into force with effect from the First day of August, 2012.
2. Amendment of section 4.-In the Karnataka Value Added Tax Act, 2003 (Karnataka Act 32 of 2004) (hereinafter referred to as the principal Act), in section 4, in sub-section (1),
(i) in clause (a), in sub-clause (ii), for the words “five per cent”, the words “five and one half per cent” shall be substituted; and
(ii) in clause (b), in sub-clause (iii), for the words “fourteen per cent”, the words “fourteen and one half per cent” shall be substituted.
3. Amendment of Sixth Schedule.-In the Sixth Schedule to the principal Act, in column 3,-
(i) in the entries relating to serial numbers 1 to 11 and 13 to 22, for the words “Five per cent” wherever they occur, the words “Five and one half per cent” shall be substituted; and
(ii) in the entries relating to serial number 23, for the words “Fourteen per cent”, the words “Fourteen and one half per cent” shall be substituted.
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