Short title and commencement:-
1. (1) This Act may be called the Gujarat Sales Tax (Amendment) Act, 1989.
(2) It shall be deemed to have come into force on the 22nd December, 1988.
Insertion of new section 41A in Gujarat 1 of 1970:-
2. In the Gujarat Sales Tax Act, 1969 (hereinafter referred to as “the principal Act”, after section 41, the following sections hall be inserted and shall be deemed to have been inserted, with effect from the 1st April, 1988, namely:-
Special provisions for transition accounting years:-
“41A. (1) If, in order to comply with the requirements of the Income-tax Act, 1961, as amended by the Director Tax Laws (Amendment) Act, 1987, any dealer has charged the year by reference to which the accounts of that dealer are ordinarily maintained in his books of accounts, and if the dealer had adopted a transitional accounting year of a duration different than his earlier accounting year as an incident of such change, then notwithstanding anything in this Act or the rules made and notifications issued thereunder, but subject to such conditions as may be prescribed, the provisions of this Act, the rules made and notifications issued thereunder shall, in respect of the transitional accounting year apply in the manner hereinafter provided in this section.
(2) The amount of tax due from a dealer liable to pay tax may be assessed or reassessed by a single order of assessment in respect of the transitional accounting year.
(3) Except where the context requires otherwise, the word ‘year’ wherever it occurs in the Act, shall be deemed to include the transitional accounting year and the provisions of this Act, the rules made and notifications issued thereunder shall be construed accordingly.
(4) Except where the content requires otherwise, any reference in this Act, the rules made and notifications issued under this Act to any amount or amounts in relation to a year shall be construed for the purposes of the transitional accounting year as a reference to the said amount or amounts as arrived at by multiplying, each such amount by a fraction of which the numerator is the number of months in the transitional accounting year and the denominator is twelve:
Provided that where the transitional accounting year includes a part of a month, if such part is of fifteen days or more, it shall be increased to one complete month and if such part is of less than fifteen days, it shall be ignored.”
Repeal and savings:-
3. (1) The Gujarat Sales Tax (Second Amendment) Ordinance, 1988 is hereby repealed.
(2) Notwithstanding such repeal, anything done or any action taken under the principal Act as amended by the said Ordinance shall be deemed to have been done or taken under the principal Act as amended by this Act. |
