Amendment status not verified — confirm the current text below against the official source.
(1) No Stockist shall, while being liable to pay luxuries tax under Section 4, hold any stock of luxuries in any premises, godown, warehouse or any other place in Meghalaya unless he obtains, on application, a licence in the prescribed form. (2) If a stockist fails to obtain a licence under sub-section:- Within the period of one month of the commencement of this Act, or within a period of seven days from the date of his liability under Section 4, whichever is later, the Prescribed Authority may, after giving him reasonable opportunity of being heard, impose, by way of penalty a sum being not less than five thousand rupees and not more than ten thousand rupees for each month of delay in obtaining the licence and direct the stockist by a notice to pay the amount of such penalty into a Government Treasury within the date specified in the notice: Provided that no penalty under this sub-section shall be imposed in respect of the same fact for which a prosecution has been instituted and no prosecution would lie vice-versa. (3) Every stockist required to obtain a licence under subsection (1) shall make an application in this behalf in the prescribed manner to the prescribed Authority. (4) If the Prescribed Authority is satisfied that the application for licence is in order, it shall subject to such conditions and restrictions and in such manner as may be prescribed, grant the applicant a licence in the prescribed form. (5) Where a stockist makes an application for licence under sub-section (3) within the period referred to in sub-section (2) such stockist shall be deemed to have completed with the provisions of sub-section (1) of this application. (6) Where a licence has been granted to a stockist under subsection (4) the Prescribed Authority may, if in its opinion it is necessary or expedient so to do for the proper realisation of recovery of the tax under this Act, at any time while such licence is in force, by an order in writing and for reasons to be recorded therein, require the stockist to furnish within such period and in such manner as may be prescribed, a security for the payment of the tax payable by him under this Act; Provided that no order shall be passed under this subsection without giving the stockist an opportunity of being heard. (7) The Prescribed Authority may, on application or otherwise, from time to time, amend the licence of a stockist. (8) Where the liability of stockist to whom a licence has been granted under sub-section (4) to pay the tax under this Act has ceased, such licence may, on application by him, be cancelled by the Prescribed Authority in the manner as may be prescribed. (9) A licence granted to a stockist under sub-section (4) may be cancelled by the Prescribed Authority after due notice to such stockist if it is satisfied that he has failed to pay the tax, penalty or interest payable under this Act or to furnish the security under sub-section (6); Provided that the licence so cancelled may be restored if the stockist to whom the licence was granted pays the arrears tax, penalty and interest and furnished a receipt challan therefore;