Amendment status not verified — confirm the current text below against the official source.
If any occupier of a factory or any owner of an iron ore mine or a manganese ore mine [or a chrome ore mine] fails to pay any amount payable by him to the Central Government under S.4 within the period prescribed thereunder, such occupier or owner, as the case may be; shall be liable to pay simple interest at twelve per cent. per annum of the amount to be paid from the date on which such payment is due till such amount is actually paid. Inserted by Act 44 of 1982, Section 8 (w.e.f. 01/07/1983).