Section 5 in Compounded Levy Scheme for Mini-Cement Plants, 2001
5. Compounded levy certificate.
(a)The Mini-Cement Plant opting for the Scheme shall submit an application in Form MC-1 to the Assessing Authority within a period of 30 days from the publication of this notification:[Provided that where a Mini-Cement Plant has failed to opt for the scheme within the stipulated period, he shall be allowed to avail the benefit on the following conditions:-(i)that such plant deposits in addition to composition amount a late fee, amounting to twenty five percent of the composition amount required to be deposited, for the financial year under this scheme where it exercises option under sub-clause (a) by 31- 1-2004, and such late fee shall be fifty percent of the composition amount if it exercises option under sub-clause (a) by 31-3-2004,(ii)that such plant shall deposit the tax charged or collected, if any, to the State Government before making application for availment of the scheme under this proviso.](b)On receipt of application in Form MC-1, the Assessing Authority, if satisfied, shall determine the composition amount and shall thereafter issue the compounded levy Certificate in Form MC-2.
