90A. Compounding of penalty that may be imposed under section 98B

(1) Subject to such conditions as may be prescribed, any dealer to whom a notice has been issued under sub-section (1) of section 98B, may before the date fixed in such notice for hearing at his option, compound the penalty proposed to be imposed as mentioned in such notice, and the Commissioner may, at his discretion, accept from such dealer, by way of composition of penalty proposed to be imposed under sub-section (1) of that section an amount equal to ten per centum of the value of goods claimed by the dealer to have been transferred by him otherwise than by way of sale in West Bengal in the statement furnished by him under section 98A.

(2) On payment in full of the amount referred to in sub-section (1), the proceedings commenced against the dealer under sub-section (1) of section 98B shall not be proceeded with further.