Power to alter the rates of tax

Tax198125 sections

Statutory text

(1) The Government may, by notification, alter the rates of tax specified in sub-section (1) of section 4 and where a notification has been issued, there shall, unless the notification is in the meantime rescinded, be introduced in the Legislature, as soon as may be, but in any case during the next session of the Legislature following the date of the issue of the notification, a Bill on behalf of the Government, to give effect to the alteration of tax specified in the notification, and the notification shall cease to have effect when such Bill becomes law, whether with or without modifications but without prejudice to the validity of anything previously done thereunder: Provided that if the notification is issued when the Legislature is in session, such a Bill shall be introduced in the legislature during that session: Provided further that where for any reason a Bill as aforesaid does not become law within six months from the date of its introduction in the Legislature, the notification shall cease to have effect on the expiration of the said period of six months.
(2) Any reference to rate of tax made under this Act shall be considered as relating to the rate of tax as for the time being amended in exercise of the powers conferred by sub-section (1).

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