(1) Notwithstanding anything contained in clause (g) of sub-section (1) of section 17, any registered dealer, who brings into West Bengal from outside any goods specified in Schedule VIII or manufactures such goods in West Bengal, may, at his option, where such goods are sold at a price not exceeding maximum retail price of such goods, pay, in such manner, within such time and subject to such conditions and restrictions, as may be prescribed in lieu of the tax payable by him on sale of such goods under clause (g) of sub-section (1) of section 17, tax at such rate on the maximum retail price of such goods specified in that Schedule as the State Government may, by notification, specify, and different rates may be fixed for different items of such goods.

Explanation - For the purpose of this section, the expression "maximum retail price", in respect of goods specified in Schedule VIII, means the maximum price printed on the package of any goods at which such goods may be sold to the ultimate consumer and includes any tax collected over the price so printed.

(2) Where a dealer, after purchasing any goods specified in Schedule VIII, on a prior sale whereof in West Bengal by a registered dealer, tax has been paid on the maximum retail price of such goods in accordance with the provisions of sub-section (1), has sold such goods at the per unit sale-price (excluding tax) which exceeds the per unit maximum retail price of such goods calculated either in volume or in weight, as the case may be, such dealer shall, notwithstanding anything contrary contained in any provisions of this Act, be liable to pay a tax at the rate specified in the notification referred to in sub-section (1) on that part of the sale-price (excluding tax) of the quantity of such goods which remains after deducting therefrom the maximum retail price of equal quantity of such goods.