Amendment status not verified — confirm the current text below against the official source.
(1) The tax payable in respect of a tax period along with a return and the tax assessed under the Act shall be payable in such manner and within such time as may be prescribed. (2) If any dealer fails to pay the tax due on the basis of return submitted by him or fails to pay any tax assessed or penalty levied or any other amount due under the Act, within the time prescribed or specified therefor, he shall pay, in addition to the amount of such tax or penalty or any other amount, 71[interest calculated at the rate of one and quarter