Levy and collection of tax

Tax195841 sections8 chapters

Chapter III LEVY OF TAX AND UTILISATION OF THE PROCEEDS OF TAX

Statutory text

(1) There shall be levied and collected a tax on the sale [or purchase] of motor spirit at such stage, as may be prescribed: Provided that such tax shall not be levied on any sale [or purchase] at more than one stage.
(2) Subject to the provisions of section 6, the tax under sub-section
(1) shall be levied for the prescribed period, in the prescribed manner, and at such rate or rates [not exceeding 30 per cent.] [of the sale price, or of the purchase price, as the case may be, of such motor spirit]) as may be prescribed, and different rates may be prescribed for different kinds of motor spirit.
(3) If any tax payable under sub-section
(1) is not paid within the prescribed period, the Collector may in lieu thereof, recover any sum not exceeding double the amount of the tax so unpaid which the Collector may think it reasonable to recover.

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