Composition of tax

Composition of tax.—

1. (1) The Commissioner may, in such circumstances and subject to such conditions as may be prescribed, permit any dealer to pay, in lieu of the amount of tax payable by him under this Act in respect of any period, a lump sum by way of composition.
2. (2) The permission for composition shall be granted in such form and for such period as may be prescribed and the dealer shall be required to pay the lump sum amount at such intervals and in such manner as may be prescribed.
3. (3) The amount of composition money paid by a dealer under this section shall be deemed to be the tax paid for the purposes of this Act.