(1) The tax under this Act shall be paid in such manner and in such instalments, if any, and subject to such conditions and payment of such interest and within such time, as may be prescribed.
(2) If default is made in making payment in accordance with sub-section (1),—
(i) the whole of the amount outstanding on the date of default shall become immediately due and shall be a charge on the property of the person or persons liable to pay tax under this Act;
(ii) the person or persons liable to pay the tax under this Act shall pay a penalty equal to,–
(a) one and half percent of the amount of tax remaining unpaid for each month or for part thereof, for the first three months after the expiry of the time prescribed under sub-section
(1); and
(b) two and half per cent of such amount for each month or for part thereof, subsequent to the first three months as aforesaid.
(3) Notwithstanding anything contained in sub-section (2), where the amount of penalty does not exceed rupees two lakh, the Commissioner and in any other case, the Government may, subject to such conditions as may be prescribed, remit the whole or any part of the penalty payable in respect of any period by any person or class of persons.
(4) Any tax assessed, or any other amount due under this Act from a dealer may, without prejudice to any other mode of collection be recovered,—
(a) as if it were an arrear of land revenue; or
(b) by attachment and sale or by sale without attachment of any property of such dealer or any other person by the prescribed officer in accordance with such rules as may be prescribed:
Provided that where a dealer who has appealed or applied for revision of any, order made under this Act and has complied with an order made by the appellate or the revising authority in regard to the payment of tax or other amount, no proceedings for recovery under this sub-section shall be made or continued until the disposal of such appeal or application for revision.