(1) If the amount of luxury tax payable under section 5 in respect Interest.
of any period is not paid by the stockist referred to in section 7 by the date prescribed under that section, such stockist shall pay a simple interest at the rate of three per centum for each English calendar month of default from the first day of such month next following the prescribed date to the last day of the month prior to the month in which such tax is fully paid or up to the month prior to the month of assessment under section 9 in respect of such period, whichever is earlier, upon so much of the amount of luxury tax payable by him according to return where return is furnished, or according to such assessment where return is not furnished, as remains unpaid at the end of each such month of default.
(2) Where a stockist fails to make payment of any luxury tax payable after assessment made under sub-section (1), or sub-section (2), by the date specified in the notice issued under sub-section (8), of section 9 for payment thereof, he shall pay a simple interest at the rate of three Returns and payment of luxury tax.
139 The West Bengal Luxury Tax Act, 1994.
[West Ben. Act Assessment of luxury tax, imposition of penalty and determination of interest.
(Section 9.)
per centum for each English calendar month of default from the first day of such month next following the date specified in such notice to the last day of the month prior to the month of full payment of such luxury tax, or up to the month prior to the month of commencement of proceedings under sub-section (10) of section 9, whichever is earlier, upon so much of the amount of luxury tax due from him according to such notice as remains unpaid at the end of each such month of default.
(3) Where as a result of an order under section 15, the amount of luxury tax on which interest Was payable under this section is modified, the interest shall be payable on the modified amount.
(4) A stockist liable to pay interest under sub-section (1) or subsection (2), shall pay into a Government Treasury or the Reserve Bank of India the amount of such interest in such manner and by such date or dates as may be prescribed.
(5) Notwithstanding anything contained in sub-section (1) or subsection (2), no interest shall be payable in such cases or under such circumstances, and subject to such conditions, if any, as may be prescribed.
(6) The State Government shall, in the prescribed manner, pay a simple interest at the rate of three per centum for each English calendar month of delay in making refund of luxury tax paid in excess which arises out of an order passed under section 15, from the first day of such month next following the expiry of three months from the date of passing of such order to the last day of the month prior to the month in which the refund is made upon the amount of tax refundable to him according to such order.
(7) In calculating the interest payable under this section, the amount of luxury tax in respect of Which such interest is to be calculated shall be rounded off to the nearest multiple of one hundred rupees and, for this purpose, where such amount contains a part of one hundred rupees, if such part is fifty rupees or more, it shall be increased to one hundred rupees and, if such part is less than fifty rupees, it shall be ignored.