Amendment status not verified — confirm the current text below against the official source.
Interest payable by dealer—(1} If any dealer does not pay inte a Chivernment Treasury the full amount of tax payable by him under this Act by the due date simple interest at the rate of fifteen Ber centum per anmium from the first day of the month next fellow- ing the said date shali be payable by him on the arount by which the tux paid, if any, by the due date falls short of the tax payable. (2] Where on making assessment, the Commissioner finds that a dealer has not maintained the atcount bocks properly and thereby he has sitppressed the purchase of goods in any period, the Commi- ssiomer may direct him to pay interest as pres¢ribed in sub- section {1}. Tf the amount of tax payable under the Act has been reduced in appeal or revision, the interest may be calenlated on the reduced amount. (3) If any registered dealer does not pay info the Government Treasury the amount of tax within the date as provided in sub- section {4} of section 20 er any instalment of the tax within the extended date as per proviso to sub-section (1) of Section 2% of the Act. interest as provided in sub-settion (1) shall be payahle fram the first day of the month next following the said date. by the dealer upon the amount by which the tax if any paid falis short of the amount of tax payable under the Act. (1) iz the amount of tax paid within the prescribed date is not less than ninety per eent of the tax as finally assesserl, no interest as provided for in sub-section (1) of this Section shall be levied. 22, (ther dues when payable—Any dues, other than the aineinl of tax, payable under this Act shall be paid by the person conterned hy such date as may be specified in the notice of demand and where no such date is specified it shall be paid within thirty days irom the date of the service of the notice.