Amendment status not verified — confirm the current text below against the official source.
(1) The proceeds of the cess and interest (other than fines) recovered under this Act shall first be credited to the Consolidated Fund of the State and after deduction of the expenses of collection and recovery therefrom shall, under appropriation duly made by law in this behalf, be entered in, and transferred to, separate fund called the Madhya Pradesh Transoport Infrastructure Development Fund. Short title, extent and commencement. Definitions. Levy and collection of cess. Madhya Pradesh '1‘ r a n s p o r t Infrastructure Development Fund. 424 (6) an,fiaWsafit—vtzo1s Incidence of cess Payment of cess. Registration. Refund in c e r t a i n circumstances. Liability of firms. Cess Authorities. Delegation hof powers. Powers to t r a n s f e r proceedings. C e r t a i n provisions of VAT Act to apply. Certain sales not liable to cess. (2) The amount transferred to the Madhya Pradesh Transport Infrastructure Development Fund shall be expensed for the development of transport infrastructure within the State or for repaying the loan taken therefor.