Section 5   [ View Judgements ]

Interest on deferment of payment of tax

1) The new industrial unit shall not be required to pay any interest on the amount of deferred tax for the period of deferment.

(2) Where after the expiry of period of deferment the deferred tax is not paid within the time specified in sub-rule (3) of rule 4, the interest at the rate of two per cent per month or part thereof shall be charged on such amount of tax remaining unpaid till the date of its payment without prejudice to any other action that may be taken for recovery.

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