The Commissioner may, at the time of grant to certificate to a dealer, for good and sufficient reasons to be recorded in writing, require the dealer to furnish in the prescribed manner such security or such additional security as may be specified by him for securing proper and timely payment of tax or any other sum payable by him under this Act.
7. Insertion of new sub-section (5) in section 10,- in the principle Act, in section 10, lj) after sub-section (4), the following new sub-section shall be inserted, namely:-
(5) Every returnunder this section shall be signed andverified-
(a) In case of an individual, by the individual himself or by a person duly authorized by him inthis beM,
(b) In the case of Hindu Undivided Family, by the Karta,
(c) In the case of company or local authority, by the principle officer or the Chief Executive Officer thereof;
(d) In the case of firm, by any partner thereof not being a minor;
(e) In the case of any other association, by the person competent to act on behalf of the association.
u after Section 10 so amended, the following shall be inserted as new section, withmar@ heading, namely:- Return Defaults,-
10A. (1) If a dealer required to file return under sub-section (1) or subsection (2) of Section 10-
(a) Fails without s&cient cause to pay the amount of tax due as per the return for any tax period: or
(b) Furnishes arevised return under sub-section(3) of Section 10 showing a higher amount of tax to be due than was shown by him in the original return; or
(c) fails to furnish return: Such dealer shall be liable to pay interest in respect of @ The tax payable by him according to the return; or ( i i The difference of the amount oftax according to the revised return; or
(m) The tax payable for the period for which he has failed to furnished return;
at the rate of 2% Der month from the date the tax Dayable had become . - due to the date of its payment or to the date of order of assessment, whichever is earlier.
Month shall mean thirty days and the interest payable in respect of period of less than one month shall be computed proportionately.
If aregistered dealer, without sufficient cause, fails to pay the amount of tax due and interest along with return or revised return in accordance with the provisions of sub-section (I), the Commissioner may, after giving the dealer reasonable opportunity of being heard, direct him to pay in addition to the tax and the interest payable by him apenalty, at the rate of 3% per month on the tax and interest so payable from the date it had become due to the date of its payment or to the date of order of assessment, whichever is earlier.
If a registered dealer or any other dealer required to furnish return under sub-section (2) of Section 10; without any sufficient cause,- Fails to comply with the requirements of the notice issued under subsection (2) of Section 10; or Fails to furnish any return by the prescribed date as required under subsection (2) of Section 10; or Being required to furnish revised return fails to furnish the revised return by the date prescribed under sub-section (3) of Section 10; or having paid the tax payable according to a return in time, fails to furnish along with the return proof of ayment made in accordance with sub-section
(4) of Section 10;
The Commissioner may, after givingthe dealer reasonable opportunity of being heard, direct him to pay, in addition to any tax, interest and penalty under sub-section (3) payable or paid by him, apenalty of a sum of rupees one thousand per day of default subject to a maximum of rupees on lakh.
Any penalty imposed under this Section shall be without prejudice to any prosecution for any offense under this Act.
(6) For the purposes of this Act, any return signed by a person who is not authorized under sub-section (5) of Section 10 shall be treated as if no return has been filed."
8. Deletion of sub-section (3) of Section 17,- In the principle Act, in section 17, sub-section (3) shall be deleted.