Preamble
Gujarat Tax on Luxury Commodities (Amendment) Act, 2001*
| [Gujarat Act No. 17 of 2001] | [31st August, 2001] |
An Act further to amend the Gujarat Tax on Luxury Commodities Act, 1995
It is hereby enacted in the Fifty-second Year of the Republic of India as follows:-
Section 1. Short title and commencement
1. Short title and commencement.- (1) This Act may be called the Gujarat Tax on Luxury Commodities (Amendment) Act, 2001.
(2) It shall come into force on the 1st September, 2001.
Section 2. Sub-situation of section 5 of Guj. 14 of 1995
2. Sub-situation of section 5 of Guj. 14 of 1995.- In the Gujarat Tax on Luxury Commodities Act, 1995 (Guj. 14 of 1995) (hereinafter referred to as "the principal Act"), for section 5, the following section shall be substituted, namely:-
"5. Levy of tax on stock of commodities of luxury.- There shall be levied on the stock of any of the luxury commodities received by a stockist during a year, a tax at the rate set out against each of them in column 3 in the Schedule. The tax shall be leived on the aggregate value of such stock".
Section 3. Substitution of Schedule to Guj. 14 of 1995
3. Substitution of Schedule to Guj. 14 of 1995.- In the principal Act, for the Schedule, the following Schedule shall be substituted, namely
Schedule
Schedule
"SCHEDULE
(See clause (4) of section 2 and section 5)
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Serial No.
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Description of Luxury commodity
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Rate of Tax
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1
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2
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3
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1.
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Cheroots
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Five per cent of the aggregate value of stock.
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2.
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Cigarettes
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Five per cent, of the aggregate value of stock.
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3.
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Cigars
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Five per cent of the aggregate value of stock.
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4.
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Smoking mixtures for pipes and cigarettes
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Five per cent, of the aggregate value of stock.
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5.
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Gutkha
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Twenty per cent, of the aggregate value of stock.
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6.
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Pan Masola with tobacco or Gutkha
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Twenty per cent, of the aggregate value of stock.".
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