Provided that no prosecution for an offence under section 59 shall be instituted in respect of the same facts on which a penalty has been imposed under this section.

Payment and recovery of tax

1. (1) The tax assessed under this Act shall be paid in such manner and in such instalments, if any, and within such time as may be specified in the notice of assessment, not being less than twenty-one days from the date of service of the notice. If default is made in paying according to the notice of assessment, the whole of the amount outstanding on date of default shall become immediately due and shall be a first charge on the properties of the dealer liable to pay the tax under this Act.
2. (2) Where during the pendency of any proceedings under this Act, or after the completion thereof, any dealer or person creates a charge on, or parts with the possession by way of sale, mortgage, gift, exchange, or any other mode of transfer whatsoever, of any of his assets in favour of any other person, with the intention to defraud the revenue, such charge or transfer shall be void as against any claim in respect of any tax, or any other sum payable by the dealer as a result of completion of such proceedings or otherwise: Provided that, such charge or transfer shall not be void if it is made,
   • (a) for adequate consideration and without notice of the pendency of such proceeding or as the case may be without notice of such tax or any other sum payable by such dealer; or
   • (b) with the previous permission of the assessing authority.
3. (3) Any tax assessed, any fee or any other amount due under this Act from a dealer or person and in respect of which no appeal or revision or such other proceedings as provided under this Act is pending before any authority or Appellate Tribunal or High Court, may, without prejudice to any other mode of collection be recovered,
   • (a) as if it were an arrear of land revenue under the law for the time being in force in that behalf; or
   • (b) on application to any Judicial Magistrate, by such Judicial Magistrate as if it were a fine imposed by him.
4. (4) If the tax assessed under this Act or any instalment thereof is not paid by any dealer or person within the time specified therefor in the notice of assessment or in the order permitting payment in instalment, the dealer or person shall pay by way of penalty, in addition to the amount due, a sum equal to two per cent. of such amount for each month or part thereof after the date specified for its payment.
5. (5) If any person collects any amount by way of tax and his turnover for the year falls short of the taxable limit specified, the sum so collected shall be remitted to the Government and forfeited wholly.