Amendment of Act 18 of 2024

Amendment of Act 18 of 2024.―In the Kerala Finance Act, 2024 (18 of 2024),―

1. (1) in section 11, in sub-section (2), after the proviso, the following provisos shall be inserted, namely:― “ Provided further that, where an assessee who was in arrears of tax or any other amount due under the Kerala Tax on Luxuries Act, 1976 (Act 32 of 1976) had opted for the settlement under section 12 of the Kerala Finance Act, 2019 (Act 5 of 2019) during previous years, but failed to settle the arrears within the period specified under sub-section
2. (7) of section 12 of the Kerala Finance Act, 2019 (Act 5 of 2019), the amount, if any, paid under the said section, after service of specified order, shall be deducted from the amount payable. The applicant shall, along with the application, furnish the proof of payments made in this regard: Provided also that, where an assessee who was in arrears of tax or any other amount due under the Central Sales Tax Act, 1956 (Central Act 74 of 1956) or the Kerala Value Added Tax Act, 2003 (30 of 2004) had opted for settlement under section 10 of the Kerala Finance Act, 2020 (7 of 2020) during previous years, but failed to settle the arrears within the period specified under sub-section
3. (7) of section 10 of the Kerala Finance Act, 2020 (7 of 2020), the amount, if any, paid, after service of specified order, under the said section shall be deducted from the amount payable. The applicant shall, along with the application, furnish the proof of payments made in this regard: Provided also that, where an assessee who was in arrears of tax or any other amount due under the Kerala Value Added Tax Act, 2003 (30 of 2004) had opted for settlement under section 11 of the Kerala Finance Act, 2020 (7 of 2020) during previous years, but failed to settle the arrears within the period specified under sub-section
4. (5) of section 11 of the Kerala Finance Act, 2020 (7 of 2020), the amount, if any, paid under the said section, after service of specified order, shall be deducted from the amount payable. The applicant shall, along with the application, furnish the proof of payments made in this regard.”;
5. (2) in section 12, in the second proviso, after the words “pertaining to a year under a relevant Act”, the words and symbols “or no tax or taxes/surcharge remains to be settled in a year” shall be inserted.