Remission or revision of taxes, Tolls, rates or fees

(1) The State Government may remit the whole or part of any tax imposed or rate, toll or fee levied by a Gram Panchayat in respect of any period after the commencement of this Act. (2) The power exercisable by the State Government under sub- section (1) shall also be exercisable either generally or in any specified area by the prescribed authority under such circumstances as the State Government may prescribe. (3) A Gram Panchayat may, by resolution and under such circumstances as may be prescribed, remit the whole or part of any such tax, rate toll or fee imposed or levied by it provided that no such resolution shall take effect unless it is approved by the prescribed authority. (4) Where any tax, rate, toll or fee has been remitted under the section, any sum realised from any person on account of tax, rate, toll or fee so remitted, shall be refunded to him by the Gram Panchayat.