Chapter -VI
COMPOSITION OF TAX FOR SPECIFIED PERIOD
18. Application for a permission to pay Composition in lieu of tax :-
(1) The Commissioner may, on an application in Form XXVI from any dealer liable to pay tax under this Act, who has under section 20 of the Act, opted to pay composition in lieu of the amount of tax leviable on him under the Act, for the specified period, permit such dealer, subject to the conditions specified in sub-rule (2), to pay a lump sum by way of composition in respect of the specified period or part thereof for which such permission is granted. Such application shall made within 2 months from the notified day, �[or within such further period, as the commissioner may permit.
(2) The Commissioner may, after making such inquiry as he thinks fit, grant the permission in Form XXVII subject to the provisions of the Act, these rules and the conditions specified as follows, namely :-
(a) the dealer has exercised his option to pay composition in lieu of the tax for the entire specified period.
(b) The dealer furnishes a statement in Form XXVIII and pays the balance amount of composition money before furnishing of such statement.
(3) The Commissioner may, within a period of 3 years from the date of grant of permission granted to a dealer where the Commissioner has reason to believe that the dealer has not furnished the true and correct particulars in respect of all the works contracts executed during the specified period and or the value of such works contracts executed by him.
(4) The Commissioner shall determine the amount of lump-sum payable by the dealer under this rule, as far as may be in accordance with the provisions of section 33 or 35 of the Bombay Sales tax Act, as the case may be and such determination shall be recorded in an order in Form XXIX.
(5) The option once exercised shall be final and can not be revoked by the dealer.