(1)The Tamil Nadu Tax on Professions, Trades, Callings and Employments Act, 1992 (Tamil Nadu Act 24 of 1992) (hereafter in this section referred to as the 1992 Act), in its application to the Village Panchayat, is hereby repealed.(2)The repeal of the 1992 Act under sub-section (1) shall not affect, -(i)the previous operation of the said Act or anything done or duly suffered thereunder; or(ii)any right, privileges, obligations or liabilities acquired, accrued or incurred under the said Act; or(iii)any penalty, forfeiture or punishment incurred in respect of any offence committed.(3)Notwithstanding the repeal of the 1992 Act, the rates of tax on professions, trades, callings and employments specified in the Schedule to the said Act shall continue to apply for the period commencing on the 1st day of April 1992 and ending with the 30th day of September 1998 for the levy and collection of such tax for the said period, where the tax due under that Act has not been paid for the said period.(4)The provisions of this Chapter, other than the rates of tax specified in sub-section (2) of section 198-B and the provisions relating to penalty and interest, shall mutatis mutandis apply to the levy and collection of tax for the period mentioned in sub-section (3).(5)The arrears of tax under the 1992 Act shall be paid in six equal half-yearly instalments in [such manner and within such period as may be prescribed] [See Rules issued in G.O. Ms. No. 9, Rural Development, dated 18th January 1999.].
