(3)Upon such determination, the Collector of the district shall require the party liable to pay the duty, to make payment of such amount as is required to make up the difference between the amount duty determined under this sub-section and the amount of duty already paid by him and shall also require such party to pay a penalty [of two hundred and fifty rupees] [The words were substituted by Gujarat 4 of 1991. Section 2.] [or the amount of the proper duty or of the deficient portion there of whichever is less] [These words were inserted by Gujarat 13 of 1994. Section 7(3)] and on such payment, return the instrument to the officer referred in sub-section (5) of section 31 or, as the case may be, sub-section (1) of this section:Provided that, no such party shall be required to pay any amount to make up the difference or to pay any penalty under this sub-section if the difference between the amount of the consideration or, as the case may be, the market value as set forth in the instrument and the market value as determined by the Collector of the district does not exceed ten per cent, of the market value determined by the Collector of the district, this proviso deleted w.e.f. 11-6-2004.
