Tax shall be payable on the sale price of-

(a) the goods specified in Schedule II, at the rate of one per cent;

(b) the goods specified in the Schedule III, at the rate of five percent;

(bb) the goods specified in the Schedule IIIA, at the rate of four percent;

(c) the goods specified in the Schedule IV, at the rate not below ten per cent and not exceeding fifty percent and subject to such conditions and restrictions, as the State Government may, by notification specify.

(d) any other goods, not specified in the Schedules I, II, III, IIIA and IV, at the rate of fourteen and a- half percent.

(2) The State Government may, by notification, alter any Schedule to this Act.