THE KARNATAKA VALUE ADDED TAX (AMENDMENT) ACT, 2018
(Received the assent of the Governor on the 18th day of July 2018)
KARNATAKA ACT NO. 23 OF 2018
(First Published in the Karnataka Gazette Extra-ordinary on the 19th day of July 2018)
An Act further to amend the Karnataka Value Added Tax Act, 2003.
Whereas the Honourable High Court of Karnataka by its order dated: 28.06.2017 in Writ Petition No. 26873-877/2017 has observed that the Honourable High Court is flooded with Writ Petitions unnecessarily in view of limited power given to the Karnataka Appellate Tribunal to extend the stay period due to the legislative lacunae therein. Hence, the Karnataka Appellate Tribunal may find itself unable to decide all the pending appeals within the stipulated time frame of one year on account of this lacunae. Accordingly, Honourable High Court directed to the State Government to consider appropriate amendments to 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-ninth year of the Republic of India, as follows:-
1. Short title and commencement.- (1) This Act may be called the Karnataka Value Added Tax (Amendment) Act, 2018.
(2) It shall be deemed to have come into force with effect from 1st day of April, 2015.
2. Amendment of section 63.- In the Karnataka Value Added Tax Act, 2003, in section 63, in sub-section (7), in clause (b), for the words, "three hundred and sixty five days", the words, "three years" shall be substituted.
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