24.  Tax Payment

                     (*1)In the case of a VAT dealer, the tax declared as due on Form VAT 200, shall be paid not later than twenty days after the end of the tax period.)

(1)   In the case of a VAT dealer, the tax declared as due on Form VAT- 200, shall be paid not later than fifteen days after the end of the tax period if the payment is by way of cheque and not later than twenty days after the end of the tax period if the payment is by way of demand draft or bankers cheque or by way of remittance into the Treasury # or by electronic funds transfer (EFT).          

( *substituted by GO MS No 1614 dt 31^st Aug 2005 w.e.f 31-8-2005)

(# added by GO MS No 2201 dt 29^th Dec 2005, w.e.f 1-12-2005)

          2)     In the case of a TOT dealer, the tax declared as due on Form TOT 007, shall be paid not later than thirty days after the end of the calendar quarter.

          3)     The return in Form VAT 200 or Form TOT 007 shall be accompanied by a receipt from Government treasury or a crossed demand draft or a crossed cheque drawn on the local bank in the State in favour of the authority prescribed. A local bank for this purpose shall be a bank located at the place of business declared for registration.

          4)     Where any VAT dealer or TOT dealer submits a Form VAT 200 or Form TOT 007 without a receipt from Government treasury or demand draft or a cheque for the full amount of tax payable, the authority prescribed shall send a notice on Form VAT 202 or TOT 012 to the VAT dealer or to the TOT dealer for the tax under paid.  Such notice shall be deemed to be an assessment cum demand notice and the VAT dealer or  TOT dealer shall pay the sum specified in the notice within the time specified therein.

          5)     Where any dealer has been permitted to pay tax or any other amount by way of instalments, the following conditions shall apply:

                  a)       The dealer shall not default payment of any other taxes or any other amount due under the Act subsequent to the granting of instalments.           

                  b)       In the event of any default, the order granting instalments shall become infructuous unless on application it is specifically restored by the Deputy Commissioner. 

                  c)       Any other conditions as may be specified in the order.                             

          6)     Where any VAT dealer has paid any Entry Tax and intends to adjust such amount against VAT payable by him as specified in sub-section (5) of Section 22, he shall make a declaration on Form 503 and file alongwith Form VAT 200 for the Tax period.