West Bengal Finance Act, 2002
No: 1 Dated: Mar, 26 2002
THE WEST BENGAL FINANCE ACT, 2002
West Bengal Act I of 2002
An Act to amend the Indian Stamp Act, 1899, in its application to West Bengal, the BengalAmusements Tax Act, 1922, the West Bengal State Tax on Professions, Trades, Callings and Employments Act, 1979,the West Bengal Entertainment-Cum-Amusement Tax Act, 1982, the West Bengal Luxury Tax Act, 1994, the West Bengal Sales Tax Act, 1994, and the West Bengal Building Tax Act, 1996, the West Bengal State Tax On Consumption Or Use Of Goods Act, 2001, and the West Bengal Ceiling On Government Guarantees Act, 2001.
WHEREAS it is expedient to amend the Indian Stamp Act, 1899, in its application to West Bengal, the Bengal Amusements Tax Act, 1922, the West Bengal State Tax on Professions, Trades, Callings and Employments Act, 1979,the West Bengal Entertainment-Cum-Amusement Tax Act, 1982, the West Bengal Luxury Tax Act, 1994, the West Bengal Sales Tax Act, 1994, and the West Bengal Building Tax Act, 1996, the West Bengal State Tax On Consumption Or Use Of Goods Act, 2001, and the West Bengal Ceiling On Government Guarantees Act, 2001, for the purposes and in the manner hereinafter appearing;
It is hereby enacted in the Fifty-third Year of the Republic of India, by the Legislature of West Bengal, as follows:-
1. Short title and commencement:- (1) This Act may be called the West Bengal Finance Act, 2002.
(2) Save as otherwise provided, it shall come into force on such date, or shall be deemed to have come into force on such date as the State Government may, by notification in the Official Gazette, appoint, and different dates may be appointed for different provisions of this Act.
2. Application and amendment of Act 2 of 1899:- (1) The Indian Stamp Act, 1899(hereinafter referred to as the principal Act) shall, in its application to West Bengal, be amended for the purpose and in the manner hereinafter provided.
(2) In Schedule lA to the principal Act, in article 23, in the column under the heading "Proper stamp-duty", for the words "Five per centum of the market values.", the following letters, words and brackets shall be substituted:—
(a) six per centum of the market value when the property is situated in the areas within the jurisdiction of any Municipal Corporation or Municipality or a notified area;
(b) five per centum of the market value when the property is situated in the areas other than those included in clause (a).