Amendment status not verified — confirm the current text below against the official source.
The tax levied under this Act shall be payable by dealer in relation to the specified goods. 11.(1) The tax levied under this Act shall be payable on demand and shall be collected by the State Government in such manner and through such agency as that Government may, by notification, specify. (2) Such portion of the total proceeds of the taxes levied and collected under this Act as the State Government may determine shall be deducted to meet the cost of collection of the taxes. 12.(1) The proceeds of the taxes levied and collected under this Act (which shall form part,of the Consolidated Fund of the State), reduced by the cost of collection, as determined under sub-section (2) of section 11, shall, after due appropriation made by law, be applied for the purposes hereinafter specified. (2) Out of the proceeds of the taxes referred to in sub-section (1), the State Government may, if satisfied that it is necessary so to do, make, subject to such conditions as it may think fit to impose, grants to any municipal or other local authority, functioning within the Calcutta Metropolitan Area, to enable such municipal or other authority to supplement its revenue: Provided that the aggregate of the amounts paid to any municipal or other authority under this sub-section shall not exceed fifty per cent of the amount which bears to the total amount of such proceeds the same proportion as the population in the area within the jurisdiction of such municipal or other local authority bears to the total population of the Calcutta Metropolitan Area. (3) The balance of the proceeds of the taxes referred to in sub-section (1) shall be paid by the State Government to such authority, as it may, by notification, specify and the amount so paid shall be applied by such authority,— (a) firstly, for the servicing and repayment of any loan raised by such authority, with the approval of the State Government, to finance any development project within the Calcutta Metropolitan Area approved by the State Government; and 22 The Taxes on Entry of Goods into Calcutta Metropolitan Area Art, 1972. V of 1972.] (Sections 13,14) (b) secondly, for distributing to— any municipal or other authority within the Calcutta Metropolitan area, or (ii) such other authority as the State Government may, by notification, specify, or (iii) Any Department of the State Govemment, for the execution of any development project, within the Calcutta Metropolitan Area, which has been approved by the State Government. CHAPTER IV Assessment and Recovery of Taxes