Insertion of new sections 5F, 5G and 5H

After section 5-E of the principal Act, the following section shall be inserted, namely :-- "5-F.

1. (1) In lieu of the tax payable under sub-section
2. (1) of section 5 and section 5-C, every dealer (other than a casual trader) may at his option pay the amount of tax as specified in the Table given below on his turnover liable to tax under sub-section
3. (1) of section 5 and section 5-C. THE TABLE Turnover subject to subsection 5
4. (1) and section 5-C, payable per year. Amount of tax Rs. Rs.

Provided that the dealers who have opted to pay the amount of the tax under this sub-section shall not be liable to tax under section 5-A and 6-B if the turnover referred to above does not exceed rupees five lakhs.

1. (2) Any dealer who opts to pay any tax under sub-section
2. (1) shall apply in the prescribed form to the assessing authority to be permitted to pay the tax under sub-section
3. (1) and on being permitted be shall pay the tax due in advance during the year in monthly or prescribed instalments and for that purpose shall submit such returns in such manner as may be prescribed.
4. (3) The permission granted by the assessing authority under sub-section
5. (2) shall continue to be in force till the dealer withdraws his option.
6. (4) The tax paid under sub-section
7. (2) shall be subject to such adjustment as may be prescribed on completion of final assessment in the manner prescribed.
8. (5) The assessing authority may by an order in writing cancel the permission granted under sub-section
9. (2) for good and sufficient reasons after giving the dealer concerned an opportunity of being heard".