The West Bengal Finance Act, 2021

Registered No. WB/SC-247 No.WB(Part-III/2021/SAR-9
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SRAVANA4]
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Extraordinary
Published by Authority
MONDAY,JULY 26, 2021
PARTIII- Acts of theWest BengalLegislature.
GOVERNMENTOFWESTBENGAL
LAW DEPARTMENT
Legislative
[SAKA 1943
NOTIFICATION
No. 573-L.2 6th July, 2021.Th e followingAct of the West Bengal Legislature, having been assented to by the
Governor, is hereby published for general information:­
Short title and
commencement.
West BengalAct IX of 2021
THE WESTBENGALFINANCEACT,2021.
[Passed by the WestBengalLegislature.]
[Assent of the Governor was first publishedin theKolkata Gazette,
Extraordinary, ofthe 26thJuly,2021.]
AnAct toamend theIndian Stamp Act, 1899, in its application to WestBengal and
the West Bengal Goods and Services TaxAct, 2017.
WHEREASit is expedient to amend theIndian StampAct, 1899, in its application to
West Bengal and theWest Bengal Goods and ServicesTaxAct, 2017, for the purposes
and in the manner hereinafter appearing;
It is hereby enacted in the Seventy-second Year of the Republic of India, by the
Legislature ofWest Bengal, a follows:--
1. (1) ThisAct may be called the West Bengal FinanceAct, 2021.
(2) Save as otherwise provided,this section shall comeinto force with immediate
effect, and the other provisions of this Act shall come into force on such date, with
prospective or retrospective effect as required, as the State Government may, by
2 of 1899.
West Ben.Act
XXVIIIof 2017.

2
Application and
amendment ofAct
2 of 1899.
Amendment of
West Ben.Act
XXVIII of 2017.
THE KOLKATA GAZETTE, EXTRAORDINARY,JULY 26, 2021
The WestBengal FinanceAct, 2021.
(Sections 2, 3.)
notification in the Official Gazette, appoint and different dates may be appointed
for different provisions of this Act and any reference in any such provision to the
commencement of this Act shall be construed as a reference to the coming into force
of that provision.
2. (1) The Indian Stamp Act, 1899, in its application toWest Bengal (hereinafter
referred to as the principal Act), shall be amended for the purposes and in the manner
hereinafter provided.
(2)In Schedule IA to the principalAct,in article 23, afterthe entriesin the column
underheading "Proper Stamp-Duty", afterthe first proviso, the followingproviso shall
be inserted:­
"Provided further that if any document, other than document for amalgamation of
contiguous land, is executed on or before 30th day of October,2021, the proper stamp
duty payable under this article will be as below:-
(a) Four per centum of the market value, in case the market value of the
property does not exceed rupees one crore, and five per centum of the
market value, in case the market value of the property exceeds rupees
one crore, when the property is situated in the areas to which the Kolkata
Improvement Act, 1911, or Howrah ImprovementAct, 1956, extends;
(b) Four per centum of the market value, in case the market value of the
property does not exceed rupees one crore, and five per centum of the
market value, in case the market value of the property exceeds rupees
one crore, when the property is situated in the areas of any Municipal
Corporation or Municipality or a notified area other than those included
in clause (a);
(c) Three per centum of the market value, in case the market value of the
property does not exceed rupees one crore, and four per centum of the
market value, in case the market value of the property exceedsrupees one
crore, when the property is situated in the areas other than those included
in clause (a) or clause (b).".
3. In the West Bengal Goods and Services TaxAct, 2017,­
(1) in section 7, in sub-section (1), after clause (a), the following clause shall be
inserted and shall be deemed tohave been inserted with effect from the 1st day of July,
2017:
"(aa) the activities or transactions, by a person, other than an individual, to
its members or constituents or vice versa, for cash, deferred payment or
other valuable consideration.
Explanation. For the purposes of this clause, it is hereby clarified that,
notwithstanding anything contained in any other law for the timebeing in
force or anyjudgment, decree or order of any Court,tribunal or authority,
the person and its members or constituents shall be deemed to be two
separate persons and the supply of activities or transactions inter se shall
be deemed to take place from one such person to another;";
(2) in section 16, in sub-section (2), after clause (a), the following clause shall be
inserted:
"(aa) the details of the invoice or debit note referred to in clause (a) has been
furnished by the supplier in the statement of outward supplies and such
details have been communicated to the recipient of such invoice or debit
note in the manner specified under section 37;";
(3) in section 35, sub-section (S) shall be omitted;
[PARr III
Ben.Act 5 of
1911.
West Ben.Act
XIV of 1956.

PARr III ] THE KOLKATAGAZETTE,EXTRAORDINARY,JULY26,2021
The West Bengal FinanceAct, 2021.
(Section 3.)
(4) for section 44, the following section shall be substituted:­
"Annual return. 44. Every registered person, other than an Input Service Distributor,
aperson paying tax under section 51 or section 52, a casual taxable
person and a non-resident taxable person shall furnish an annual return which may
include a self-certified reconciliation statement, reconciling the value of supplies
declaredin the return furnishedfor the financialyear,with the audited annual financial
statement for every financial yearelectronically,within suchtime andin such form and
in such manner as may be prescribed:
Provided that the Commissioner may, on the recommendations of the
Council, by notification, exempt any class of registered persons from filing annual
return under this section:
Provided further that nothing contained in this section shall apply to any
department of the Central Government or a State Government or a local authority,
whose books of account are subject to audit by the Comptroller and Auditor General
ofIndia or an auditor appointedfor auditingthe accounts oflocal authoritiesunder any
law for the time being in force.";
(5) in section 50,in sub-section (1),for theproviso,thefollowingproviso shallbe
substituted and shall be deemed to have been substituted with effect from the 1st day
of July, 2017:-
"Provided that the interest on tax payable in respect of supplies made
during a tax period and declared in the return for the said period furnished
after the due date in accordance with the provisions of section 39, except
where such return is furnished after commencement of any proceedings
under section 73 or section 74inrespect of the saidperiod, shall bepayable
on that portion of the tax which is paid by debiting the electronic cash
ledger.";
(6) in section 74, in Explanation.- 1, in clause (ii), for the words and figures
"sections 122, 125, 129 and 130", the words and figures "sections 122 and 125" shall
be substituted;
(7) in section75,in sub-section (12),thefollowingExplanation shallbe inserted:--
'Explanation.- For the purposes of this sub-section, the expression
"self-assessed tax" shall include the tax payable in respect of details of
outward suppliesfurnished under section 37, but not included in the return
furnished under section 39.';
(8) in section 83, for sub-section (1), the following sub-section shall be
substituted:
"(1) Where, after the initiation of any proceeding under Chapter XII, Chapter
XIV or Chapter XV, the Commissioner is of the opinion that for the purpose of
protecting the interest of the Government revenue it is necessary so to do, he may,
by order in writing, attach provisionally, any property, including bank account,
belonging tothe taxable person or any person specified in sub-section (lA) of section
122, in such manner as may be prescribed.";
(9) in section 107, to sub-section (6), the following proviso shall be added:
"Provided that no appeal shall be filed against an order under sub-section
(3) of section 129,unless asum equaltotwenty-fiveper cent. of thepenalty
has been paid by the appellant.";
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4 THE KOLKATA GAZETTE, EXTRAORDINARY,JULY 26, 2021
The West Bengal FinanceAct, 2021.
(Section 3.)
(10) in section 129,-
(a) in sub-section (1),-
(i) for clause (a), the following clause shall be substituted:-
"(a) on payment of penalty equal to two hundred per cent. of the
tax payable on such goods and, in case of exempted goods,
on payment of an amount equal to two per cent. of the value
of goods or twenty-five thousand rupees, whichever is less,
where the owner of the goods comes forward for payment of
such penalty;";
(ii) for clause (b), the following clause shall be substituted:-
"(b) on payment of penalty equal to fifty per cent. of the value of
the goods or two hundred per cent. of the tax payable on such
goods, whichever is higher, and in case of exempted goods,
on payment of an amount equal to five per cent. of the value
of goods or twenty-five thousand rupees, whichever is less,
where the owner of the goods does not come forward for
payment of such penalty;";
(b) sub-section (2) shall be omitted;
(c) for sub-section (3), the following sub-section shall be substituted:-
( 3) The proper officer detaining or seizing goods or
conveyance shall issue a notice within seven days of such detention or
seizure, specifying the penalty payable, and thereafter, pass an order
within aperiod of seven days from the date of service of suchnotice,for
payment of penalty under clause (a) or clause (b) of sub-section (1).";
(d) in sub-section (4), for the words "No tax,interest or penalty", the words
"No penalty" shall be substituted;
(e) for sub-section (6), the following sub-section shall be substituted:-
"(6) Where the person transporting any goods or the owner of such
goods fails to pay the amount of penalty under sub-section (1) within
fifteen days from the date of receipt of the copy of the order passed
under sub-section (3), the goods or conveyance so detained or seized
shall be liable to be sold or disposed of otherwise, in such manner and
within such time as may be prescribed, to recover the penalty payable
under sub-section (3):
. Provided that the conveyance shall be released on payment by
the transporter of penalty under sub-section (3) or one lakh rupees,
whichever is less:
Provided further that where the detained or seized goods are
perishable or hazardous in nature or are likely to depreciate in value
with passage of time, the said period of fifteen days may be reduced by
the proper officer.";
(11) in section 130,-
(a) in sub-section (1), for the words "Notwithstanding anything contained
in thisAct, if', the word "Where" shall be substituted;
(b) in sub-section (2), in the second proviso, for the words, brackets and
figures "amount of penalty leviable under sub-section (1) of section
129", the words "penalty equal to hundred per cent. of the tax payable
on such goods" shall be substituted;
(c) sub-section (3) shall be omitted;
[PARTII

PART III] THE KOLKATA GAZETTE,EXTRAORDINARY,JULY 26, 2021
The WestBengal FinanceAct, 2021.
(Section 3.)
(12) for section 151, the following section shall be substituted:
"Power to call for 151. The Commissioner or an officer authorised by him may, by an
information. order, direct any person to furnish information relating to any matter
dealt with in connection with this Act, within such time, in such form, and in such
manner, as may be specified therein.";
(13) in section 152,
(a) in sub-section (1),-
(i) the words "of anyindividualreturn orpartthereof ' shall be omitted;
(ii) afterthewords"anyproceedingsunderthisAct",thewords"without
giving an opportunity of being heard tothe person concerned" shall
be inserted;
(b) sub-section (2) shall be omitted;
(14) in Schedule II, paragraph 7 shall be omitted and shall be deemed to have
been omitted with effect from the 1st day of July,2017.
By order of the Governor,
SUGATO MAJUMDAR,
Secy. to the Govt. of West Bengal,
Law Department.
Publishedby LawDepartment, Government ofWestBengal and
Printed at SaraswatyPressLtd.(Government ofWest BengalEnterprise), Kolkata 700 056.
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