(1) The State Government may, by notification, fix the rate of tax, not exceeding twenty per centuni of the taxable turnover of sales, other than those referred to in sub-clause (c) of clause (30) of section 2, of goods specified in Schedule IV, and different rates may be fixed for different items of such goods.
(2) Notwithstanding anything contained in sub-section (1), the State Government may, if it is satisfied that it is necessary so to do in the public interest, by notification, and subject to such conditions as may be specified therein, direct that tax shall be payable at such rate, lower than that fixed under sub-section (1), by such dealer or category of dealers or for such class of sales as may be specified in the notification.