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VAT bills passed, Amendments to TCP
February, 04th 2011

Two bills - The Goa Town and Country Planning (amendment) Bill 2011 and The Goa  Value Added Tax (Fifth amendment) Bill, 2011 - were passed by the legislative assembly on Thursday.

The VAT amendment bill seeks to impose tax on all taxable items at the exhibitions cum sales organized in the state. The statement of objects and reasons says sub-section 9 is being inserted to Section 3 of Goa Value Added Tax Act 'so as to provide that the persons organizing or conducting exhibitions for sale of goods shall be liable to pay tax on all taxable sales effected'.

Among the several changes to the Act, the bill makes a provision relating to input tax credit and also to allow the input tax credit on capital goods. It also aims to revise the procedure of issue of debit note against return of goods to the seller by allowing the selling dealer to issue an acknowledgement for having received the goods from the purchaser.

Amendment to Section 89 seeks to empower the government to frame a scheme to allow tax concession to new industries set up in the state.

The Goa Town and Country Planning (amendment) Bill 2011 seeks to hike the fee prescribed for filing an appeal before the town and country planning (TCP) board.

As per the statement of objects and reasons of the bill, a fee not exceeding Rs 500 is 'to be accompanied with an appeal filed before TCP board against the orders passed or omitted under Section 44 of the Town and Country Planning Act'.

As the bill is inadequate, it is proposed to raise the fee to Rs 10,000. The bills were introduced on Tuesday.

 
 
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