Amendment status not verified — confirm the current text below against the official source.
After section 35 of th e principal Act, the ggA sectio~ following shall be inserted as section 35A, namely s-« AMaro Act XVII of 1947· - "Interest 3SA; (1) If any registered dealer does not pay payable by into a Government Treasury the full amount of tax dealer. due from him under this Act on the basis of the return or his account - books within the pres- cribed date, simple interest at the rate of six per cent - per annum from the first day of the month next following the said date shall be pay- - 'able by th e dealer upon the amount by which -the tax' so paid fulls short of the amount of tax payable as per his return or account books. If such amount of tax and interest are not paid within thirty days from the date from which the ·' Rate of tax 3 paise in the rupee. I paisa in the rupee. 6 paise in the rupee." "Schedule II (See Section 4-) Classes of goods Serial No. I Declared gOOd9 2 Readymade garments 3 Other goods [other than the goods taxable under the Assam Finance (Sales Tax) Act, 1956 and the Assam (Sales of Petroleum and Petroleum Products' including Motor Spirit and Lubricants) Taxation Act, 1955.] interest is due, simple interest upto a maximum ot twenty-four per cent per annum shall be payable as may be prescribed. . (2) Where on making the assessment, the Com- missioner finds that a dealer has not maintained the account books properly and thereby he has suppressed th e sale of goods in any period, the Commissioner may direct him to pay interest as prescribed in sub-section (1). If the amount of tax payable under the Act has been reduced in appeal or revision, the interest may be calculated on the reduced amount. (3) If any registered dealer does not pay into the Government Treasury the amount of tax within th e date as provided in sub-section (4) of section 34 or an y instalment of the tax within the extended date as per proviso to sub-section (1) of section 36 of -the Act, interest as provided in sub-section (1) shalI be payable from the first day of the month next following the said date by the dealer upon the amount by which the tax if any paid falls short of the amount of tax payable under the Act." Amendment