KERALA FINANCE ACT, 2018

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Preamble Act No. 05 of 2018

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[31st March, 2018]

PREAMBLE

An Act to give effect to certain financial proposals of the Government of Kerala for the Financial Year 2018-2019.

Section 1

(1) This Act may be called the Kerala Finance Act, 2018.

(2) Save as otherwise provided in this Act, it shall come into force on the 1st day of April, 2018.

S.2 Amendment of Act 1 of 1077

Section 2

In the Abkari Act, 1077 (1 of 1077),--

(1) in section 3, after clause (13), the following clauses shall be inserted, namely:--

(13A) "Foreign Made Foreign Liquor" means any liquor produced, manufactured or blended, compounded and bottled abroad and imported i

S.3 Amendment of Act 11 of 1957

Section 3

In the Kerala Surcharge on Taxes Act, 1957 (11 of 1957), section 3 shall be omitted.

S.4 Amendment of Act 17 of 1959

Section 4

In the Kerala Stamp Act, 1959 (17 of 1959),--

(1) in section 2, the existing clause (ff) shall be re-lettered as clause (fa) and after clause (fa) as so re-lettered, the following clauses shall be inserted, namely:--

Section 5

In the Kerala Court Fees and Suits Valuation Act, 1959 (10 of 1960) in SCHEDULE II, after Article 18 and the entries against it in columns (2) and (3), the following Article and entries shall, respectively, be inserted, namely:--

Section 6

In the Kerala Land Tax Act, 1961 (13 of 1961), in section 6, for sub-section (1) and NOTE below it, the following sub-section and proviso shall be substituted, namely:--

"(1) Subject to the provisions of sub-section (2) of section 7, the basic tax charged and levied under section 5 shall be at the rate of five rupees in Panchayat areas, ten rupees in Municipal Council areas and twenty rupees in Municipal Corporation areas, per Are per annum:

Section 7

In the Kerala General Sales Tax Act, 1963 (15 of 1963),--

(1) in section 23B,--

(a) in sub-section (3), for the words and figures "31st December, 2017", the words and figures "30th June, 2018" shall be substituted;

S.8 Amendment of Act 19 of 1976

Section 8

In the Kerala Motor Vehicles Taxation Act, 1976 (19 of 1976),--

(1) in section 3,--

(a) in sub-section (1),--

Section 9

In the Kerala Agricultural Income Tax Act, 1991 (15 of 1991) in section 37C--

(a) in sub-section (5), for the words and figures "30th September, 2017" the words and figures "30th June, 2018" shall be substituted;

(b) in sub-section (7), for the words and figures "31st December, 2017" the words and figures "31st December, 2018" shall be substituted.

S.10 Amendment of Act 30 of 2004

Section 10

In the Kerala Value Added Tax Act. 2003 (30 of 2004),--

(1) in section 2, after clause (xxiv), the following clause shall be inserted, namely:--

"(xxiva) "Joint Commissioner (Appeals)" means any person appointed to be a Joint Commissioner (Appeals) under sub-section (3) of section 3;";

Section 11

In the Kerala Finance Act, 2008 (21 of 2008), in section 6--

(1) (a) for the words and figures "section 5 and section 7", the words and figure "section 5, except on foreign liquor." shall be substituted;

(b) the proviso shall be omitted:

Section 12

(1) Notwithstanding anything contained in sub-section (1) of section 173 of the Kerala Goods and Services Tax Act, 2017 (20 of 2017) and the Kerala Tax on Luxuries Act, 1976 (32 of 1976) (hereinafter referred to as the repealed Act) and the rules made thereunder or in any judgment, decree or order of any court, tribunal or appellate authority, an assessee who is in arrears of tax or any other amount due under the repealed Act relating to the period up to and including 31st March, 2011, may opt for settling the arrears on payment of the principal amount of tax in arrears and thirty per cent of penalty amount, by availing a