Amendment status not verified — confirm the current text below against the official source.
1 [( 1 )] Notwithstanding anything contained in 2 [any law for the time being in force, or any contract to the contrary] any amount of tax, penalty, interest, sum forfeited, fine or any other sum, payable by a dealer or any other person under this Act, shall be the first charge on the property of the dealer or, as the case may be, person. 3 [( 2 ) The first charge as mentioned in sub-section ( 1 ) shall be deemed to have been created on the expiry of the period specified in sub-section ( 4 ) of section 32, for the payment of tax, penalty, interest, sum forfeited, fine or any other amount.]