Amendment of section 5

Amendment of section 5.- In section 5 of the principal Act,-

1. (i) for sub-section (2), the following sub-section shall be substituted, namely:- “(2) There shall be levied a tax on the turnover of receipts at the rates provided in Schedule I hereto.”;
2. (ii) in sub-section (5), for the expression “sales tax under the Goa Sales Tax Act, 1964 (Act 4 of 1964)”, the expression “tax under the Goa Value Added Tax Act, 2005 (Act 9 of 2005)” shall be substituted;
3. (iii) after sub-section (6), the following sub-section shall be inserted, namely:- “(7)
4. (i) The Government may, by notification in the Official Gazette,-

1. (a) reduce any rate of tax;
2. (b) enhance any rate of tax; and may by like notification, add to, or omit from, or otherwise amend any entry, of the Schedule and thereupon the Schedule shall be deemed to have been amended accordingly.
   • (ii) Any notification issued under clause
   • (i) shall take effect prospectively, either from the date of publication thereof in the Official Gazette or from such later date as may be mentioned therein.
   • (iii) Every notification made under clause(i) shall be laid as soon as may be after it is made on the table of Legislative Assembly while it is in session for a total period of thirty days which may be comprised in one session or in two successive sessions, and if, before the expiry of the session in which it is so laid or the session immediately following, the Legislative Assembly agrees in making any modification in the notification or the Legislative Assembly agrees that the notification should not be made and notify such decision in the Official Gazette, the notification shall from the date of publication of such decision have effect only in such modified form or be of no effect, as the case may be, so however that any such modification or annulment shall be without prejudice to the validity of

anything previously done or omitted to be done under that notification.”.