167. Payment of interest for delayed payment or non-payment of tax payable before assessment

(1) Every dealer liable to pay interest under sub-section (1) of section 31 in respect of any period shall pay such interest at the time of making payment of tax payable in respect of such period.

(2) Notwithstanding anything contained in sub-rule (1), where the dealer pays the tax referred to therein by installments he shall pay the interest at the time of making payment of the tax and furnish the statement and receipted challan each time in accordance with the provision of sub-rule (3).

(3) The dealer shall prepare a statement showing details of calculation of the amount of interest payable as referred to in sub-rule (1) and furnish such statement alongwith receipted challan as a proof of payment of such interest.