Returns, assessment and payment of tax

(1) Every dealer liable to pay tax under this Act shall furnish such returns in such form and to such authority and within such time as may be prescribed. (2) If the assessing authority is satisfied that the returns filed under sub-section (1) are correct and complete, he shall accept the returns. (3) If the assessing authority has reason to believe that any return furnished is incorrect or incomplete, he shall serve on the dealer a notice requiring him to produce such evidence as he may require in support of the returns. (1) Every stockist registered under this Act and every other stockist, who may be required so to do by the Commissioner by notice served in the prescribed manner, shall furnish such returns of his turnover of stocks by such dates and to such authority and make payment of tax due and interest accrued on delayed payments in the manner and in the form as may be prescribed. (2) Every registered stockist and every stockist required to furnish returns under sub-section (1) shall pay into the Government treasury or the Reserve Bank of India or in such other manner as may be prescribed, the full amount of tax due from him under this Act according to such returns and shall, where such payment is made into a Government treasury or the Reserve Bank of India, furnish, along with the returns, a receipt from such treasury or the bank, showing the payment of such amount. (3) The interest, in addition to the tax due, shall be payable at two per cent per month if the stockist fails to pay the tax due or payable, along with his returns under sub-section (1) and where the stockist defaults or is deemed to be in default in making the payment of tax assessed or re-assessed under this Act, from the date of such default. (4) Interest at the rate as provided in sub-section (3) shall also be payable for the period during which the realization of any amount of tax remains stayed by the order of any court or authority and such order is subsequently vacated. (5) The interest payable under this section shall be deemed to be tax due under this Act. (1) Every stockist registered under this Act and every other stockist who may be required so to do by the Commissioner by notice served in the prescribed manner, shall furnish such returns of his turnover of stocks by such dates and to such authority and make payment of tax due and interest accrued on delayed payments in the manner and in the form as may be prescribed. (2) Every registered stockist and every stockist required to furnish returns under sub-section (1) shall pay into the Government treasury or the Reserve Bank of India or in such other manner as may be prescribed, the full amount of tax due from him under this Act according to such returns and shall, where such payment is made into a Government treasury or the Reserve Bank of India, furnish, along with the returns, a receipt from such treasury or the bank, showing the payment of such amount. (3) The interest, in addition to the tax due, shall be payable at two per cent per month if the stockist fails to pay the tax due or payable, along with his returns under sub-section (1) and where the stockist defaults or is deemed to be in default in making the payment of tax assessed or re-assessed under this Act, from the date of such default. (4) Interest at the rate as provided in sub-section (3) shall also be payable for the period during which the realization of any amount of tax remains stayed by the order of any court or authority and such order is subsequently vacated. (5) The interest payable under this section shall be deemed to be tax due under this Act.