Amendment status not verified — confirm the current text below against the official source.
(1) Where a generating company, which is liable to pay cess in the time-limit as prescribed, does not pay such amount of cess within such time- limit, there shall be paid by such generating company, for the period 2 of 1974. Accounts. Assessment. Recovery. G:\pdf\2011-IV\IV-Ex.,-3 (Green Cess Bill) Dt.31-3-11doc.doc 3-6 GUJARAT GOVERNMENT GAZETTE, Ex, 30-3-2011 [PART- IV commencing on the date of expiry of the aforesaid period and ending on the date of payment of the amount of cess, simple interest at the rate as may be prescribed, not exceeding eighteen per cent. per annum. (2) All sums payable as cess or interest under this Act, if not paid within the prescribed period shall be deemed to be in arrears, and thereupon the amount of cess along with amount of interest to be levied under this Act, shall be recoverable as an arrear of land revenue. (3) Where any generating company is liable to pay any amount on account of this cess, penalty or interest, and it pays amount less than amount due, the amount so paid shall be first applied towards the amount of interest, thereafter the balance, if any, towards penalty and thereafter the balance, if any, towards the amount of cess. CHAPTER VII PENALTIES