Liability under this Act to be the first charge

Liability under this Act to be the first charge.— Notwithstanding anything contained in any contract to the contrary, but subject to any provision regarding charge on property in the Central Excise Act, 1944 (I of 1944), the Customs Act, 1962 (52 of 1962), the Central Sales Tax Act, 1956 (74 of 1956), any amount of tax, penalty, interest, composition money, sum forfeited, or any other sum, payable by a dealer or any other person under this Act shall be the first charge on the property of the dealer, or as the case may be, person.