The West Bengal Finance Act, 2026

The West Bengal Finance Act, 2026

The West Bengal Finance Act, 2026, is a legislative amendment that modifies two primary state laws: the West Bengal State Tax on Professions, Trades, Callings and Employments Act, 1979, and the West Bengal Goods and Services Tax Act, 2017. It updates tax rates, reporting requirements for employers, and assessment timelines. For the ordinary citizen, it changes how profession tax is calculated and paid, while for businesses, it alters GST compliance regarding discounts and input tax credit refunds. The Act also decriminalizes certain offences under the profession tax law by replacing imprisonment with monetary fines, aiming to streamline administrative compliance.

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