(1) Subject to the provision of rule 37 and rule 42, a dealer, who is required to furnish returns monthly under sub-rule (1) of rule 35, shall,-

(a) pay into the appropriate Government Treasury under the appropriate challan showing separately the amount of net tax and interest; and

(b) pay into the appropriate Government Treasury under the appropriate challan showing separately the amount of late fee, if any,-

(i) where the amount of net tax according to the return relating to the period commencing on or after the 1st day of April, 2010, exceeds rupees ten thousand,-

(A) of rupees one thousand for the first English Calendar month or part thereof of delay in furnishing return, and

(B) of rupees two hundred and fifty for every subsequent English Calendar month or part thereof of delay in furnishing such return; or

(ii) where no amount of tax is payable according to the return relating to the period commencing on or after the 1st day of April, 2010 or where the amount of net tax according to the return relating to the period commencing on or after the 1st day of April, 2010, does not exceed rupees ten thousand, -

(A) of rupees three hundred for the first English Calendar month or part thereof of delay in furnishing return, and

(B) of rupees one hundred for every subsequent English Calendar month or part thereof of delay in furnishing such return,

payable according to such returns before furnishing such returns by him under the aforesaid rule.

Provided that where a dealer has furnished the return in respect of any return period by the prescribed date or thereafter but has failed to make full payment of net tax and interest payable according to such return within such date, such dealer shall be deemed to be delayed in furnishing return for the purpose of this sub-rule and shall pay late fee upto the date of full payment of such net tax and interest or upto the date of provisional assessment under section 45, or assessment under section 46 or section 48, as the case may be, in respect of such period, whichever is earlier:

Provided also that no late fee shall be payable under the first proviso, if the total amount of net tax, interest and late fee paid in short does not exceed rupees one thousand:

Provided further that where a dealer has failed to furnish return in respect of any return period by the prescribed date or thereafter before the provisional assessment made under section 45 or the assessment made under section 46 or section 48, as the case may be, and on such provisional or other assessments, the full amount of net tax and interest payable for such period is found not to have been paid by him within such date, such dealer shall pay late fee upto the date of provisional assessment under section 45 or assessment under section 46 or section 48, as the case may be, in respect of such return period.

(2) Notwithstanding anything contained in sub-rule (1), where the dealer pays the net tax referred to therein by instalments he shall pay the corresponding interest at the time of making payment of such net tax and furnish the statement, showing details of calculation of the amount of interest payable, along with the receipted challan each time as a proof of payment of such interest.