(1)If any registered dealer does not pay into a Government treasury the full amount of tax due from him under this Act on the basis of the return or his account books within the prescribed date, simple interest at the rate of [twenty five percent per annum] [Substituted by The Tripura Sales Tax (Third Amendment) Act, 1984, w. e. f. 12.7.1984.] from the first day of the month next following the said date shall be payable by the dealer upon the amount by which the tax so paid falls short of the amount of tax payable as per his return or account books:[........................................................] [Omitted by The Tripura Sales Tax (Second Amendment) Act, 1981, w. e. f. 4.5.1981.](2)Where on making the assesement, the Commissioner finds that a dealer has not maintained the account books properly, and thereby he has suppressed the sale of goods in any period, the Commissioner may direct him to pay interest as prescribed in sub-section (1). If the amount of tax payable under the Act has been reduced in appeal or revision, the interest may be calculated on the reduced amount.(3)If any registered dealer does not pay into the Government treasury the amount of tax within the date as provided in sub-section (4) of section 24 or any instalment of the tax within the extended date as per proviso to sub-section (1) of section 26 of the Act, interest as provided in sub-section (1) shall be payable from the first day of the month next following the said date, by the dealer upon the amount by which the tax if any paid falls short of the amount of tax payable under the Act.[Explanation . [Inserted by The Tripura Sales Tax ( Fourth Amendment) Act, 1987, w. e. f. 12.5.1987.] - For the purpose of sub-section (4), prescribed date means the date prescribed under section 8 of the Act.](4)If the amount of tax paid within the prescribed date is not less than ninety per centum of the tax as finally assessed, no interest as provided for in sub-section (1) of this section shall be levied.
