(1)(a)The Commissioner may, subject to such restrictions and conditions as may be prescribed, permit any registered dealer, who carries on wholly or partly the business of supplying goods in the course of execution of works contract entered into by him, to pay in lieu of tax payable by him under this Act a lump sum at such rate as may be prescribed and determined in the prescribed manner, by way of composition, and this option for composition will have to be submitted within [60 days] of commencement of execution of the works contract or contract.(b)The provisions of Sections 18, 20, 20-A, 39 and 40 shall not apply to a registered dealer to whom permission to pay a lump sum by way of composition is granted under clause (a) in relation to the period for and the goods in respect of which such composition of tax has been made and who complies with the restrictions and conditions prescribed under the said clause.
