58. Deposit of the amount of tax deducted from the bills or invoices of the works contractors into the Government Treasury. –

(1) The amount of tax deducted from the bills or invoices of the works contractors, shall be deposited by the person, hereinafter referred to as the deducting authority, into the Government Treasury, within one week from the date of deduction by a challan in Form VAT-317:

Provided that, the deducting authority, at his option, may deposit the amount of tax so deducted from the bill or invoice of the works contractor by crossed demand draft on any scheduled bank in favour of the Sales Tax Officer or Assistant Commissioner of the circle or range, as the case may be.

(2) The challan in Form VAT-317 shall be filled up in quadruplicate, one part of the challan shall be retained by the treasury, one part of the challan shall be sent by the Treasury to the concerned Assistant Commissioner or the Sales Tax Officer, as the case may be, and the remaining two parts shall be returned to the deducting authority.

(3) The deducting authority shall retain one part of the challan and send the other part of the challan to the Assistant Commissioner or the Sales Tax Officer, as the case may be, within whose jurisdiction the work is being executed:

Provided that, if the works contractor concerned is a registered dealer, the receipted challan or crossed demand draft received from the deducting authority shall be taken into account in the circle or range where it is received and, then forwarded to the circle or range under whose jurisdiction such works contractor is registered.