Amendment status not verified — confirm the current text below against the official source.
If a purchaser fails to pay the entire amount of the tax payable by him at the time of purchase or within the prescribed period, he shall be liable to pay in addition to t ax due, penalty as imposed by the assessing authority : Provided that no penalty shall be imposed without giving to the purchaser an opportunity of being heard : Provided further that the amount of penalty shall not exceed five times the amount of the tax remaining unpaid. Deposit in Treasury and penalty on default