CHAPTER - II
LEVY OF TAX
3. Levy and collection of tax.
1) (a) There shall be levied and collected a tax on the entry of the notified goods into any localarea for sale ,consumption or use therein.The goods and the rates at which ,the same shall be subjected to tax shall be notified by the Government.the tax shall be on the value of the goods as defined in clause (n) of sub section(1)of section 2 and different rates may be prescribed for different goods or different classes of goods or different categories of persons in the local area;
(b) the tax shall be payable by the importer in such manner and within such time as may be prescribed;
(c) the rat e of tax to be notified by the Government in respect of any commodity shall not exceed the rate specified for that commpdity under the Andhra Pradesh General Sales Tax Act,1957 or the notifications issued thereunder;
provided that the tax payable by the importer under this Act shall be reduced by the amount of tax paid,if any under the law relating to General SalesTax in force in Union Territory or State ,in which the goods are purchased.
2) Notwithstanding anything contained in sub-section(1) , no tax shall be levied on the notified goods imported by a dealer registered under the Andhra Pradesh General Sales Tax Act,1957 who brings such goods into any localarea for the purpose of resale in the State of Andhra Pradesh or during the course of inter -state trade or commerce;
Provided that if any such dealer ,after importing the notified goods for the purpose of resale ,consumes such goods in any form or deals with such goods in any other manner except reselling the same ,he shall forthwith notify the assessing authority by the 20th of the month, succeeding the month in which such goods are so consumed or dealt with and pay the tax ,which would have been otherwise leviable under sub-section(1), along with interest for the poriod of delay at the rate of 18% per annum compounded quarterly.
3) If any dealer having imported the notified goods for the ostensible purpose of resale deals with such goods in anyoher manner or consumes the same and does not notify to the assessing authority as provided in sub-section (2) or does not pay the tax as required in sub-section (2)within the specified period ,the assessing authority shall assess the amount of tax which such dealer is liable to pay and levy penalty equal to the amount of tax due,apart from collecting interest from the date of entry of goods into the localarea. |