Insertion of section 22B in Mah XLI of 1987

Insertion of section 22B in Mah. XLI of 1987.

11. After section 22A of the Luxury Tax Act, the following section shall be inserted, namely :—

“22B.

1. (1) Notwithstanding anything to the contrary contained in Tourism Policy- 2006, the Certificate of Entitlement, in respect of Tourism Policy- 2006, shall be granted only to the Eligible Unit, situated in areas specified in Zone ‘B’ or, as the case may be, Zone ‘C’ as shown in Annexure ‘B’ to the said Policy, to which the Eligibility Certificate has been issued after the commencement of the Maharashtra Tax Laws (Levy, Amendment and Validation) Act, 2014 : Provided that, Certificate of Entitlement to the Expansion Unit under the Tourism Policy- 2006 shall be granted only if there is an increase in capacity of the existing unit.
2. (2) Notwithstanding anything to the contrary contained in Tourism Policy-2006, any Eligible Unit, to whom the Eligibility Certificate and Certificate of Entitlement has been granted, for expansion of existing unit, shall be entitled to draw the benefits under the Act, in any year, only on that part of its turnover of receipts as may be arrived at, by applying the provisions of sub-section (3).
3. (3) In case where the Eligible Unit has,—
   • (a) maintained separate accounts of receipts and able to identify the receipts pertaining to the increased capacity, then the portion of the turnover of receipts eligible for benefits will be decided solely on the basis of such identification;
   • (b) not maintained separate accounts of receipts and not able to identify the receipts in relation to increase in the capacity, then such benefits shall be calculated after applying the formula as under :— Eligible turnover of receipts = Turnover of receipts × increase in capacity ____________________________________________________ Total capacity after such increase Explanation.— For the purpose of this section, the expression “increase in capacity” shall have the same meaning as specified in the Tourism Policy-2006.”.