Due date for Payment of Tax

Tax200387 sections5 chapters

Chapter IV PROCEDURE AND ADMINISTRATION OF TAX

Statutory text

(1) The tax payable in respect of a tax period along with a return and the tax assessed under this Act shall be payable in such manner and within such time as may be prescribed.
(2) If any dealer fails to pay the tax due on the basis of return submitted by him or fails to pay any tax assessed or penalty levied or any other amount due under this Act, within the time prescribed or specified therefor, he shall pay, in addition to the amount of such tax or penalty or any other amount, interest calculated at the rate of one percent per month or part thereof for the period of delay from such prescribed or specified date for its payment.
(3) In the case of a dealer executing works contract or any other person as may be notified by the Government for this purpose from time to time, a tax at the rate of one percent shall be deducted from the amount payable to him by the Central or the State Government or an industrial, commercial or trading undertaking thereof or a local authority or a statutory body or a company registered under Companies Act, 1956.

Study data processing for this section.

PDF: pending for this language.