"22A. Interest payable by dealer - (1) If any dealer does not pay into a Government Treasury the full amount of tax payable by him under this Act by the due date simple interest at the rate of twelve per centum · per annum from the first day of the month next following the said date shall be payable by him on the amount by which the tax paid, if any, by the due date falls short of the Etax payable. No interest under this sub-section shall be payable if the amount of tax paid by the due date is not less than ninety per centum of the tax payable.
- r THE ASSAM GAZETTE, EXTRA.ORDINARY, bEC. 15, L77 <;6J - - - - - - ----- - ------- --
(2) If such tax is not paid within a period of sixty days from the due date, then in addition to interest payable under sub-section (1), the dealer shall be liabl~ to pay simple interest at the rate of twenty four per centum per annum from the day commencing after the said period of sixty days on the amount by which the tax paid, if any, before the expiry of the said period falls short of the amount of tax payable.
(3) If any dealer does not pay the full amount of tax payable by him under this Act in respect ·of any period between the 1st day of January, 1968 and the 30th September, 1977 before the commencement of the Assam Finance (Sales Tax) (Amend ment) Act, 1977 he shall be liable to pay simple interest, at the rate of twenty-four per centum per annum from the said date of commencement on the amount by which the tax paid, if any, before such commencement falls short of the tax payable. ,
(4) Interest under this Section shall be payable till the tax payable is paid in full :
Provided that where a dealer pays a part of the tax payable after the due date or in a case covered by sub-section (3), after th~ commencement of the Assam Finance (Sales Tax) (Amendment) Act, 1977 he shall be liable to pay interest at the appropriate rate on the whole of the tax payable up to the date of part payment and thereafter on the balance tax payable.
(5) Where any interest becomes pay able under this Section, the officer competent to assess the dealer under Section 9 shall record an order to that effect specifying the amount of interest payable and the amount on which and t:he period for which the inte rest is payable. Notwithstanding anything contained in this Act, an order under this sub-section can be passed at any time when interest under this Section is found to be due.
S62 TH}-: ASSAM GAZETTE, EXTRAORDINARY, DEC. 1$, 197'1 ·----- ----·-A ___ -- - - - - --.c ~
(6) Where an order is passed under su b-sec6on ( 3) of Section 2'1 in respect of any dues, any interest relatable to the same dues and accrued under this Section up to the date of such order and any further interest accruing after such date shall be recovered in the course of proceedings initiated in accordance with the said sub section (3) in respect of the said dues and for that purpose no order under sub-sec tion ( 5) of this Section or notice un<ler .
Section 21 shall be necessary in respect of such interest.
(7) The provisions of this Section shall not apply to tax payable in respect of sales covered by a notifi cation under sub section (5) o f Section 22.
Explanation I. - For the purposes of this Section "tax payable" means the amount of tax as finally assessed under this Act.
Explanation IL-For t.he purposes of this · Section tax payable shall be deemed to be due for payment as follows :- For any period
(a) From 1st April to 30th September .. ... by 31st October.
(b) From !st October to 31st March . . ... by 30th April."
Amendment 8. In Section 23 of the principal Act, of Section 23 r. b · (3) h r 11 · h 11 b of Assam a1ter SU -section . , t e IO OW1ng S a e Att XI of inserted as sub-section ( 4) namely:-
1956. ' ' " ( 4) The provisions of this Section shall not apply to tax payable in respect of sales covered by a notification under sub-section (5) of Section 22.'' THE ASSAM GAZETTE, EXTRAORDINARY, DEC, 15, 1977 %3 Amendment 9. In Section 25 of the principal Act, ofSection .
25 of m sub-section (7A), between the words Assam Act ''him" and the punctuation mark "·" the XI of ' '
1956. following shall be inserted, namely:- "other than tax assessed in of sales covered by a notification sub-section ( 5) of Section 22".
respect under Amendment 10. In the 1 Schedule to· the principal of Schedule A .
to Assam Ct. . Act XI of