Amendment status not verified — confirm the current text below against the official source.
(1) If any registered ~dealer does not pay dbJe by into a Govern ment t reasury the full amount of tax es'er, due from him under this Act on the basis of the return or his acco un t books within the p rescribed date, simple interest at the rate of six per cen t per an- num from the first day of the mo nth next following the said date shall be payable by the dealer upon the amount by which the tax so paid falls short of the amount of tax payable as per his return or account books. If such amount of tax and in tere st are not paid within thirty days from the date from which the: inter est is du , simple interest upto a maximum of 24 per cent shall be payable as may be pres- cribed. (2) W!:ere on making ~ the assessment, the Corn- missioner finds that a dealer has not main- tained the account books properly and there- by he ha s suppressed the nurchase of 10 goods In an y perio..., the Commissioner may direct him to lJay interest as prescribed in sub-section (1). 11 the amount of tax payable under the Act has been red uced in appeal or revision , the ir teres t may be ca lculated on the red uced amount. (3) If any J egistered dealer does not pay in to the Goverruaen t treasu ry the amount of tax with in the date ii" provide d in sub-section (t) 01 section 21) or any inst alment 01 the tax within the extended nate as per proviso to sub- ection (I) of section 23 of the Act, ir te Sl as prov ided ii sub-section (I) shall be payable from l' c first day of the month next following the said date bv the dealer up on the amount by which the tax, jf any, p .id falls short f he amount of tax payable un der the Act. Other <lees