Company : Sol Infotech Pvt. Ltd. Website : www.courtkutchehry.com Gujarat Tax On Luxury Commodities (Amendment) Act, 2001 CONTENTS 1. Short Title And Commencement 2. Substitution Of Section 5 Of Gujarat 14 Of 1995 3. Substitution Of Schedule To Guj. 14 Of 1995 SCHEDULE 1 :- Schedule I Gujarat Tax On Luxury Commodities (Amendment) Act, 2001 An Act further to amend the Gujarat Tax on Luxury Commodities Act, 1995. It is hereby enacted in the Fifty-second Year of the Republic of India as follows:- 1. Short Title And Commencement :- (1) This Act may be called the Gujarat Tax on Luxury Commodities (Amendment) Act, 2001. (2) It shall come into force on the 1st September, 2001. 2. Substitution Of Section 5 Of Gujarat 14 Of 1995 :- In the Gujarat Tax on Luxury Commodities Act, 1995 (hereinafter referred to as "the Principal Act"), for Section 5, the following section shall be substituted, namely:- "5. Levy of tax on stock of commodities of luxury - There shall be levied on the stock of any of the luxury commodities received by a stockist during a year, a tax at the rate set out against each of them in column 3 in the Schedule. The tax shall be levied on the aggregate value of such stock.". 3. Substitution Of Schedule To Guj. 14 Of 1995 :- In the principal Act, for the Schedule, the following Schedule shall be substituted, namely:- SCHEDULE 1 Schedule I (See clause (4) of Section 2 and Section 5) Serial Description of Luxury Rate of Tax (1) (2) (3) 1. Cheroots Five per cent of the aggregate value of stock 2. Cigarettes Five per cent of the aggregate value of stock 3. Cigars Five per cent of the aggregate value of stock 4. Smoking mixtures for pipes Five per cent of the aggregate value of stock and cigarettes 5. Gutkha Twenty per cent of the aggregate value of stock 6. Pan Masala Twenty per cent of the aggregate value of stock or Guthka