(1) Notwithstanding anything contained in this Act, every dealer whose gross turnover exceeds rupees two hundred and fifty crores shall, on sales or purchases of such goods as the State Government may, by notification published in the official Gazette specify, also pay additional tax, in addition to the tax payable by him, at such rate, not exceeding four per centum of the aggregate value, as may be fixed by the State Government in the said notification.

Explanation -For the purposes of this sub-section, the expression "aggregate value" shall mean the aggregate value (excluding the tax paid or payable under this Act) of the sales, of the goods so notified, at the first point in a series of sales within the State.

(2) All provisions of this Act relating to the payment, assessment, recovery and refund of tax shall apply to the payment, assessment, recovery and refund of additional tax.

(3) Notwithstanding any thing to the contrary contained in this Act, every dealer liable to pay additional tax shall be entitled to collect the amount of this additional tax.