Section 60. Forfeiture and penalty for unauthorized collection of tax

(1) Where any person- (a) not being a registered dealer or being a registered dealer not liable to pay tax under this Act, collects any amount by way of tax; or (b) who being a registered dealer, collects any amount by way of tax in excess of the tax payable by him; or (c) who otherwise collects tax in contravention of any of the provisions of this Act, the assessing authority or any other officer, not below the rank of an Assistant Commercial Taxes Officer authorized by the Commissioner, shall by an order forfeit the amount so collected. (2) Where any person or dealer has collected any amount in the manner specified in sub section (1), the assessing authority or any other officer not below the rank of an Assistant Commercial Taxes Officer authorized by the Commissioner, may direct such person or dealer to pay, in addition to the amount forfeited under subsection (1), a penalty equal to double the amount of tax which has been so collected by him.