Amendment status not verified — confirm the current text below against the official source.
l 35A of the principal shall be substituted, "35A. Interest payable by dealer- (1) If any dealer does not pay into a Government Treasury the full amount ~f 974 THE ASSAM GAZETTE, EXTRAORDINERY, DEC. 15, 1977 - ·· -- . . - -· • i . . . -·· ~· .. tax payable by him under this Act by the due date simple interest at the rate of twelve per centum per annum from the first day of the month next following the said date shall be payable by him on the amount by which the tax paid, if any, by the due date falls short of the tax payable. No interest under this sub-sec- tion shall be payable if the amount of tax paid by the due date is not less than ninety per centum of the tax payable. (2) If such tax is not paid within a period of sixty days from the due. date, then in addition to interest payable under sub-section (1), the dealer shall be liable to pay simple interest at the rate of twenty-four per centum per annum from the day commencing after the said period of sixty days on the amount by which the tax paid, if any, before the expiry of the said period falls short of the amount of tax payable. (3) If any dealer does not pay the full amount of tax payable by him under this Act in respect of any period between the 1st day of January, 1968 and the 30th September, 1977 before the. c;om- mencement of the Assam Sales Tax (Amendment) Act, 1977 he shall be liable to pay simple interest at the rate of twentv-four per centum per annum from the said date · of commencement on the amount by which the tax paid, if any, before such commencement falls short of the tax payable. ( 4) Interest under this Section shall be payable till the tax payable is paid in full: - --- -·- ···-- - . 2 ··,., ) r-'"' '"· _l'~_A.SS~M GAZETTE ... EXTRA.ORDINERY, Dl!C. 15, 1977 975 Assam ?ales Tax (Amendment) Act, 1977 he shall be liable to _pay interest at the appropriate rate on the whole of the tax payable up to the date of part payment and thereafter on the balance tax payable. ·{5) Where any interest becomes pay- «bl~ under this Section, the officer competent to assess the dealer under Section 1 7 shall record an order to that effect specifying ·the amount of interest payable. and . U:.e amount on which and the period for which the interest is pay- able. Notwithstanding anything contained'• .. in this Act, an order under this sub-sec- tion can be passed at any time· when interest under this Section is found to be due. (6) Where an order is passed under sub-section (3) of S~ction 36 in respect of . any dues, .-any interest relatable to the same dues and accrued under this Section upto the date of such order and any further interest accruing after such date .shall be recovered in the course of procee- dings initiated . in accordance with the said sub-section (3) . in respect of the said dues and for that purposes no order under sub-section (5) of this Section or notice under Section 33 shall be neces~ sary in respect of such interest. (7) The prov1s10ns of this . Section shall not apply to tax payable in respect of sales covered by a notification under sub-section (5) of Section 34. Explanation. I-For ~the purposes of this ··· · Section "tax payable" means the amount of tax . asJip{tlly assessed under ~ 1·- ,,,. ..,.,.....· . ~ ..,,, .- • " 'tFJ.ii!tAct . .. / "'""" 976 THE ASSAM GAZETTE, i:XTRAORDINERY, D~C. 15, l,;, -- .... ----- - - ---- Expianation. II-For the purposes of this Section tax payable shall be deemed to be due. for payment as follows : For any period:- . (a) from 1st April to 30th September- by 31st October. (b) from 1st October to 31st March- by 30th April." Amendment