32. Return defaults.-

(1) If a dealer, required to file the return under sub-section(1) or sub-section(2) of section 31,-

(a) fails to pay the amount of tax due as per the return for any tax period; or

(b) furnishes a revised return under sub-section(3) of section 31 showing a higher amount of tax to be due than was shown by him in the original return; but fails to pay the additional amount of tax due according to the revised return; or

(c) fails to furnish return,-

he shall be liable to pay interest in respect of clause(a) on the tax payable by him according to the return; in respect of clause (b) on the difference of amount of tax according to the revised return; and in respect of clause (c) on the tax payable for the period for which he has failed to furnish the return @ 2% per month from the date the tax payable had become due to the date of its payment or to the date of order of assessment whichever is earlier

Explanation:- 'Month' shall mean a calendar month and the interest payable for part of the month shall be proportionately calculated according to the number of days of default.

(2) For the purpose of the Act, any return signed by a person who is not authorized under sub-section (5) of section 31 shall be treated as if no return has been filed.