26. Payment of tax, penalty and interest under section 43 and Notice of Demand.—

(1) The dues required to be paid under the Act, (except the fees to be paid by means of Court Fee Stamps) shall be paid into a Designated Bank by Challan in Form-24 or by way of a crossed cheque or a crossed demand draft in favour of the Prescribed Authority. In case of cheque or bank draft, it must be drawn on a local branch of the Bank.

(2) Challans shall be filled in quadruplicate. Two copies of the challan i.e. original and the duplicate copies duly signed as proof of payment shall be returned to the dealer or the tenderer and the other two copies i.e., the triplicate and the quadruplicate copies shall be retained by the Bank.

(3) The quadruplicate copy retained by the Bank shall be transmitted to the Prescribed Authority on the day following the day of payment.

(4) Every Designated Bank shall send the scroll along with the triplicate copies of challans to the concerned Treasury Officer on the 5th day of every month showing therein the amount received in the previous month. The scroll shall contain the challan number and dates, the name of the dealers and the amount paid by each. The Treasury Officer on receipt of the scroll from the bank shall forthwith send an advice list to the Prescribed Authority of the area showing the same details as given in the scroll.

(5) The amount of tax, interest or penalty or any other sum except when the same is payable by court fees stamps, shall be deposited in the Government Account under the Head of Account "0040-Sales Tax".

(6) The notice of demand required to be served under section 43 for payment of tax, interest, penalty or other sum shall be in Form-25.

(7) Every Prescribed Authority shall maintain a Daily Collection Register in Form-26 wherein the particular of every challan received in proof of payment shall be recorded.

(8) Ever Prescribed Authority shall maintain Demand, Assessment and Collection Register in Form-27 showing the returns filed, assessments framed and payments made under the Act or these rules by each dealer.