Section 25(5)(i) in The M.P. Vanijyik Kar Niyam, 1995
(i)the dealer shall pay within thirty days of the expiry of each quarter tax equal to ¼th of the amount of tax to which he has been assessed for the latest preceding year of assessment or ¼th of the amount of tax payable according to his returns for the latest preceding year, whichever is greater;