Determination of requisite amount and extent of waiver under Tax on Entry Act.

The applicant who is liable to pay entry tax under the Tax on the Entry Act as determined in the statutory order then, notwithstanding anything contained in this Act or the Relevant Act, for the purpose of settlement under this Act,-

1. (a) the requisite amount shall be the amount equivalent to the amount of entry tax determined in the statutory order, or the amount reduced or denied by the amount of set-off of entry tax, as provided under rule 53 or 54, respectively, under the Value Added Tax Rules or, as the case may be, under the Bombay Sales Tax Rules, 1959, whichever is less;
2. (b) in case the said applicant has paid the amount as determined under clause (a), on or before the last date specified in clause (b) of the Table given in sub-section (2) of section 10 of this Act, considering the options for which the settlement is desired, then the balance amount of tax remaining payable shall be waived by passing order under this Act and the said applicant shall not be entitled to claim the set-off of any amount including the amount paid on or before the 30th April 2023 under the Value Added Tax Rules or, as the case may be, under the Bombay Sales Tax Rules, 1959;
3. (c) the interest as per any statutory order shall be considered for determining the requisite amount and waiver in that respect in accordance with Annexure-A or Annexure-B, as the case may be;
4. (d) the penalty imposed as per any statutory order shall be considered for determining the requisite amount and waiver in that respect in accordance with the Annexure-A or Annexure-B, as the case may be;
5. (e) the provisions of sub-sections (2), (3), (6) and (7) of section 8 shall apply mutatis mutandis to this section.