209
THE
KERALA FINANCE
ACT,
I989
(Act 23of
1989)
CONTENTS
Preamble Sections :
1. Short title and commencement.
M
211
THE
KERALA FINANCE
ACT,
1989* (Act 23of
1989)
An Act Io
gwe effect to
cartam
firzanczal
proposal:
oft/1e
Government
(J
[fem/a
for (It! financzalyear
1989-90 Preamble —VVHEREAS 1tis
expedient to
g1vc effectto
certain financial proposals of the
Government of
Keralaforthefinancialyear13189-90; BE 1t
enacted in
the Fortleth Year of the
Republic
ofInd1aasfollows :— a
1.
Short mile and
comnzerwement.——(1)
T1115 Act
may
be
called
the
Kcrala Finance
Act,
1989.
(2) It
shallbedeemed tohave comeinto
forceonthe131
day 01 April,
1989.
2.
Amendment
of
Act
15
of
1963.-——l11
the Kerala
General
Sales Tax Act, 1963
(15 of
1963),—
(l) in
clause
(i)
ofsub-secuon
(2A) of
section 5,-—
(a) forthe
opening
paragraph, the
followmg
shallbe
substituted, namely:—
"(1)
Notwithstanding anything
contained 1nthlsAct01 therules made thereunder eve1y dealer other than an oil company defined in
the Explanatron
under scr1al
number140oftheFirst
Schedule tothis Act,
whose total turnover
in a
year exceeds rupees twenty-five
Iakhs shall pay
turnover tax at
the rate of half
percentum
on the turnover of
goods
coming
under the First or
Fifth Schedule
to this Act
and m the case ofan011 company whose total turnover 1n a
year is rupees fifty
lakhs and
above shall pay
turnover
tax at
the rate of one
percentum,
on the
tu1nove1.";
(b) for
clause
(i)
ofthe
proviso, the
following
clause shallbe
substituted namely:—
"(1) onwhlch tax15leviable under sub-section
(1) or
sub-section
(2)
on. such dealer
other thananoil
c0mpany
referred to
above, except
in
the case of rubber
excluding synthetic
rubber,
tea.
pepper,
areczmut and
tlllcd gingerf';
(2) insub-section
(4)
ofsection 17, forthe
words "three
lakhs
rupees"
the
words,
"five lakhs
rupees"
shallbesubstituted. 4 *
Recewed the
assent of the Governor
on the 29th
day
of
July 1389 and
pubhshed intheKerala
Gazette
Extraordinary No.723
dated the 29th
July
1989.