(1) Every clearing, forwarding or booking agent or broker or a person transporting goods, engaged in business as specified in sub-section (1) of section 76, shall furnish information about his place of business in Form VAT-408 to the Sales Tax Officer or Deputy /Assistant Commissioner, as the case may be, having jurisdiction, within one month from the date of commencement of the Act or within one month of the commencement of the business, whichever is later.

(2) Where any goods or goods vehicle of any transporter, bailee or the owner or the lessee of a warehouse has been seized under sub-section (8) of section 76, the Sales Tax Officer, Deputy / Assistant Commissioner of Sales Tax having jurisdiction shall assess the tax due on that part of the goods, which is found to have not been accounted for, at the prevailing market price and demand, by order, the tax and penalty, as specified in that section, in FormVAT-313 to be paid by such date as maybe specified in that order:

Provided that before the tax due is assessed and the penalty is imposed, the transporter, bailee or the lessee of the warehouse, as the case may be, shall be allowed an opportunity of being heard.