(1) (a) The tax payable under the Tripura Sales Tax Act, 1976 (Tripura Act No. 11 of 1976) (hereinafter in this section referred to as the said Act), shall, in the case of a dealer whose taxable turnover for a year exceeds ten lakhs of rupees be increased by an additional rate of tax of 2[0.50] percent of the taxable turnover.
Provided that where in respect of declared good (goods declared by Section 14 of the Central Sales Tax Act, 1956,) the tax payable by such dealer under the Tripura Sales Tax, 1976, together with the additional tax payable under the sub-section, exceeds four percent of the sale or purchase price thereof, the rate of additional tax in respect of such goods shall be reduced to such an extent that the tax and the additional tax together shall not exceed four percent of the sale or purchase price of such goods.
(1) (b) The provisions of the said Act shall apply in relation to the additional tax payable under Clause (a) as they apply in relation to the tax payable under the said Act.
(2) Notwithstanding anything contained in the said Act, no dealer referred to in sub-section (1) shall be entitled to collect the additional tax payable under the said sub-section.
(3) Any dealer who collects the additional tax payable under sub-section (1) in contravention of the provisions-of sub-section (2) shall be punishable with fine which may extend to two thousand rupees and no Court below the rank of a Judicial Magistrate of the first class shall try any such offence.