Vat Actupdated - RS Goyal & Associates

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registered dealer is the Central Government or a State Government or any of their
departments, the Commissioner may, subject to such terms and conditions as may be
prescribed, permit such dealer to pay the amount of tax by book adjustment.
4 (4A)Notwithstanding anything contained in any other provisions of this Act but subject to
such conditions as may be prescribed , a registered dealer who is eligible to avail of the
facility of deferment of payment of tax under the scheme formulated in accordance with
the provisions of sub-clause (e) of clause (i) of section 72, is liable to pay tax under the
provisions of sub-section (2) or sub-section (3) or sub-section (5) and where a loan
liability equal to the amount of tax payable by the dealer as aforesaid for the period of
eligibility to avail of the said facility has been created by any agency or agencies as the
State Government may, by general or special *order, specify, then such tax shall be
deemed to have been paid in accordance with the provisions of sub-section (2) or subsection
(3) or sub-section (5), as the case may be. 4
(5) The amount of tax -
(a)due where the returns were furnished without full payment of tax, or
(b)assessed or re-assessed under sub-sections (4) and (5) of Section 20 less the
sum, if any, already paid by the dealer or person in respect of the said year together
with interest, if any, required to be paid and the penalty if any, directed to be paid
under clause (c) of sub-section (4) of Section 18, or
(c) (i) assessed under sub-section (6) of Section 20 or Section 21 together with the
interest and/ or penalty, if any, directed to be paid thereunder, and
(ii) the amount of penalty if any imposed or directed to be paid under any provisions of
this Act not covered under 2 clause (b) and sub-clause (i) of clause (c), 2
shall be paid by the dealer or person in the prescribed manner by such date as may be
specified in a notice in the prescribed form to be issued by the Commissioner for this
purpose and the date to be so specified shall ordinarily be not less than thirty days from the
date of service of such notice.
(6) Where on an admission of a first appeal or a second appeal, the appellate authority
stays the recovery of any amount of tax assessed or penalty imposed and on a decision in
such appeal by it the amount of tax or penalty so stayed has been maintained in whole or in
part by it, the dealer shall be liable to pay interest on such amount at the rate of 2 1.5 per
cent 2 per month for the period from the date on which the recovery of such amount was
stayed by the appellate authority to the date of its payment after the decision in appeal.
(7) If, for any reason, a dealer or person, is unable to pay the tax assessed, interest payable
or levied or the penalty imposed on him under this Act or the tax payable by him in advance
of assessment within the time specified therefor in the notice of demand, he may apply to the
Commissioner in writing to grant him further time for payment of such amount or to permit
him to pay such amount in installments. Subject to such conditions and restriction as may be
prescribed, the Commissioner may grant further time to such dealer or person or allow him
to pay such amount in installments on such conditions as he may deem fit to impose. Where
any extension of time or permission to pay by installments is granted, the dealer or person
shall be liable to pay interest on such amount from the last date on which the amount was
due to be paid in accordance with such notice of demand. The interest shall be paid at
eighteen per cent per annum for the period commencing from such last date.
(8) Where a dealer or person does not pay the tax assessed or the interest levied or the
penalty imposed on him or any other amount due from him under this Act within the time
specified therefor in the notice of demand and the dealer or person, has not obtained any
order under sub-section (7) or has failed to pay the amount in accordance with the order
passed by the Commissioner under sub-section (7), the Commissioner shall, after giving the
dealer or person a reasonable opportunity of being heard, direct that such dealer or person