Rajasthan Finance Act, 2017
[Rajasthan Act 8 of 2017][31st March, 2017]
CONTENTS
2. Declaration under Section 3, Rajasthan Act No. 23 of 1958
AMENDMENT IN THE RAJASTHAN VALUE ADDED TAX ACT, 2003
3. Amendment of Section 3, Rajasthan Act No. 4 of 2003
4. Amendment of Section 4, Rajasthan Act No. 4 of 2003
AMENDMENT IN THE RAJASTHAN TAX ON LUXURIES (IN HOTELS AND LODGING HOUSES) ACT, 1990
5. Insertion of Section 32A, Rajasthan Act No. 9 of 1996
AMENDMENT IN THE RAJASTHAN ENTERTAINMENTS AND ADVERTISEMENTS TAX ACT, 1957
6. Insertion of Section 9D, Rajasthan Act No. 24 of 1957
AMENDMENT IN THE RAJASTHAN STAMP ACT, 1998
7. Amendment of Section 3-A, Rajasthan Act No. 14 of 1999
8. Amendment of Section 3-B, Rajasthan Act No. 14 of 1999
9. Amendment of Section 5, Rajasthan Act No. 14 of 1999
10. Amendment of Section 32, Rajasthan Act No. 14 of 1999
11. Amendment of Section 49, Rajasthan Act No. 14 of 1999
12. Amendment of the Schedule, Rajasthan Act No. 14 of 1999
An Act further to amend the Rajasthan Value Added Tax Act, 2003, the Rajasthan Tax on Luxuries (In Hotels and Lodging Houses) Act, 1990, the Rajasthan Entertainments and Advertisements Tax Act, 1957 and the Rajasthan Stamp Act, 1998, in order to give effect to the financial proposals of the State Government for financial year 2017-18 and to make certain other provisions.
Be it enacted by the Rajasthan State Legislature in the Sixty-eighth Year of the Republic of India, as follows:—
1. Short title.—This Act may be called the Rajasthan Finance Act, 2017.
2. Declaration under ## Section 3, Rajasthan Act No. 23 of 1958.—In pursuance of Section 3 of the Rajasthan Provisional Collection of Taxes Act, 1958 (Act No. 23 of 1958) it is hereby declared that it is expedient in the public interest that provisions of Clauses 3, 4, 9 and 12 of this Bill shall have immediate effect under the said Act.
AMENDMENT IN THE RAJASTHAN VALUE ADDED TAX ACT, 2003
3. Amendment of ## Section 3, Rajasthan Act No. 4 of 2003.—For the existing sub-section (2) of Section 3 of the Rajasthan Value Added Tax Act, 2003 (Act No. 4 of 2003), hereinafter in this Chapter referred to as the principal Act, the following shall be substituted, namely:—
“(2) Notwithstanding anything contained in subsection (1) a dealer other than those specified in clause (a) of sub-section (1) or the dealer or class of dealers as may be notified by the State Government, who purchases goods from a registered dealer of the State and sells, such goods or goods manufactured from such goods within the State, may opt for payment of tax on his turnover excluding the turnover of the goods specified in Schedule I, at the rate as may be notified under sub-section (3) of Section 4, subject to the condition that annual turnover of such dealer does not exceed—
(i) rupees fifty lacs, in case of a dealer specified in clause (b) of sub-section (1); and
(ii) rupees seventy five lacs, in case of other dealers.”.
4. Amendment of ## Section 4, Rajasthan Act No. 4 of 2003.—In sub-section (3) of Section 4 of the principal Act,—
(i) for the existing punctuation mark “.”, appearing at the end, the punctuation mark “:” shall be substituted; and
(ii) after sub-section (3), so amended, the following proviso shall be added, namely:—
“Provided that the State Government may notify different rates for different class of dealers.”.
AMENDMENT IN THE RAJASTHAN TAX ON LUXURIES (IN HOTELS AND LODGING HOUSES) ACT, 1990
5. Insertion of ## Section 32A, Rajasthan Act No. 9 of 1996.—After the existing Section 32 and before the existing Section 33 of the Rajasthan Tax on Luxuries (in Hotels and Lodging Houses) Act, 1990 (Act No. 9 of 1996), the following new section shall be inserted, namely:—
“32A. Power of State Government to waive penalty and interest in certain cases.—Notwithstanding anything contained in this Act, the State Government in the public interest, by notification in the Official Gazette, may reduce or waive any amount of interest, penalty or late fee payable for any period by any class of hoteliers, subject to such terms and conditions as may be specified in the notification.”.
AMENDMENT IN THE RAJASTHAN ENTERTAINMENTS AND ADVERTISEMENTS TAX ACT, 1957
6. Insertion of ## Section 9D, Rajasthan Act No. 24 of 1957.—After the existing Section 9C and before the existing Section 10 of the Rajasthan Entertainments and Advertisements Tax Act, 1957 (Act No. 24 of 1957), the following new section shall be inserted, namely:—
“9D. Power of State Government to waive penalty and interest in certain cases.—Notwithstanding anything contained in this Act, the State Government in the public interest, by notification in Official Gazette, may reduce or waive any amount of interest or penalty payable for any period by any class of proprietors, subject to such terms and conditions as may be specified in the notification.”.
AMENDMENT IN THE RAJASTHAN STAMP ACT, 1998
7. Amendment of ## Section 3-A, Rajasthan Act No. 14 of 1999.—In Section 3-A of the Rajasthan Stamp Act, 1998 (Act No. 14 of 1999), hereinafter in this Chapter referred to as the principal Act,—
(i) for the existing sub-section (1), the following shall be substituted, namely:—
“(1) All instruments chargeable with duty under Section 3 read with Schedule to the Act, shall be chargeable with surcharge at such rate not exceeding 10 percent of the duty chargeable on such instruments under Section 3 read with Schedule to the Act, as may be notified by the State Government, for the purpose of the development of basic infrastructure facilities such as rail or road transportation system, communication system, power distribution system, sewerage system, drainage system or any other such public utilities serving any area of the State and for financing Municipalities and Panchayati Raj Institutions.”; and
(ii) after the existing sub-section (3), the following shall be added, namely:—
“(4) Save as provided in sub-section (3), the State Government may make rules for collection of surcharge leviable under this section and for regulating the duties and remuneration of the person through whom surcharge is collected.”.
8. Amendment of ## Section 3-B, Rajasthan Act No. 14 of 1999.—In Section 3-B of the principal Act,—
(i) for the existing sub-section (1), the following shall be substituted, namely:—
“(1) All instruments chargeable with duty under Section 3 read with Schedule to the Act, shall be chargeable with surcharge at such rate not exceeding 10 percent of the duty chargeable on such instruments under Section 3 read with Schedule to the Act, as may be notified by the State Government, for the purpose of conservation and propagation of cow and its progeny.”; and
(ii) after the existing sub-section (3) and before the existing sub-section (4), the following shall be inserted, namely:—
“(3A) Save as provided in sub-section (3), the State Government may make rules for collection of surcharge leviable under this section and for regulating the duties and remuneration of the person through whom surcharge is collected.”.
9. Amendment of ## Section 5, Rajasthan Act No. 14 of 1999.—In Section 5 of the principal Act,—
(i) in marginal heading, after the existing expression “mortgage” and before the existing expression “or settlement”, the expression “agreement or any other document (memorandum etc.) relating to the deposit of title deeds” shall be inserted;
(ii) in sub-section (1),—
(a) after the existing expression “mortgage” and before the existing expression “or settlement”, the expression “agreement or any other document (memorandum etc.) relating to the deposit of title deeds” shall be inserted; and
(b) for the existing expression and each of the other instruments shall be exempt from duty the expression and each of the other instruments shall be chargeable with a duty of two hundred rupees instead of the duty, if any, prescribed for it in that Schedule” shall be substituted.
10. Amendment of ## Section 32, Rajasthan Act No. 14 of 1999.—In Section 32 of the principal Act,—
(i) after the existing clause (b) and before the existing clause (c), the following shall be inserted, namely:—
“(bb) in the case of a leave and licence agreement-by licensee;”; and
(ii) after the existing clause (c) and before the existing clause (d), the following shall be inserted, namely:—
“(cc) in the case of Bank Guarantee, Licence relating to arms and ammunitions, Limited Liability Partnership (LLP)- by the person in favour of whom instrument is executed;”.
11. Amendment of ## Section 49, Rajasthan Act No. 14 of 1999.—In Section 49 of the principal Act, after the existing subsection (2), the following new sub-section shall be added, namely:—
“(3) Where stamp duty in excess of that which is legally chargeable has been charged or paid on the instrument at the time of the registration of such instrument the State Government or any officer authorized by the State Government by notification may, upon application in writing made within six months from the date of registration, refund the excess.”.
12. Amendment of the Schedule, Rajasthan Act No. 14 of 1999.—In the Schedule of the principal Act,—
(i) in Article 5, for the existing clause (f), the following shall be substituted, namely:—
“(f) if relating to any advertisement made for promotion of any product or program or event with an intention to make profits or business out of it;
0.25% of the amount agreed in the contract, subject to a minimum of rupees five hundred and maximum of rupees twenty five thousand.”;
(ii) for the existing Article 33, the following shall be substituted, namely:—
“33. Lease—Including an under lease or sub-lease and any agreement to let or sub-let or any renewal thereof,— Where such lease purports to be— | ||
(i) | for a period less than one year | .0.02 percent of the market value of the property. |
(ii) | for a period not less than one year but not exceeding five years. | 0.1 percent of the market value of the property. |
(iii) | for a period exceeding five years but not exceeding ten years. | 0.5 percent of the market value of the property. |
(iv) | for a period exceeding ten years but not exceeding fifteen years. | One percent of the market value of the property. |
(v) | for a period exceeding fifteen years but not exceeding twenty years. | Two percent of the market value of the property. |
(vi) | for a period exceeding twenty years but not exceeding thirty years. | Four percent of the market value of the property. |
(vii) | I for a period exceeding thirty years or in perpetuity, or does not purport for any definite period. | The same duty as on a conveyance (No. 21) on the market value of the property: |
Provided that in any case when an agreement to lease is stamped with the stamp required for a lease, and a lease in pursuance of such agreement is subsequently executed, the duty on such lease shall not exceed hundred rupees.
Exemption:— Lease, executed in the case of cultivator and for purposes of cultivation (including a lease of trees for the production of food or drink).”;
(iii) in Article 35-A,—
(a) in sub-clause (i) of clause (a), for the existing expression “Three thousand rupees”, appearing under column No. 2, the expression “Five thousand rupees” shall be substituted;
(b) in sub-clause (i) of clause (c), for the existing expression “One thousand rupees”, appearing under column No. 2, the expression “Two thousand rupees” shall be substituted; and
(iv) in clause (a) of Article 48, after the existing expression daughter of a predeceased son and before the existing expression or father or mother the expression or father's sister or son of predeceased brother shall be inserted.
Secretary to the Government.