7. Payment and disbursement of amounts wrongly collected by dealers as tax.

1. the whole of the amount outstanding on the date of default shall become immediately due and shall be a charge on the properties of the dealer;
2. the dealer liable to pay the amount shall pay interest at the rate of one and one half percent of such amount for each month of default; and
3. the whole of the amount remaining unpaid along with the interest calculated under clause (ii) of this sub-section shall be recoverable in the manner specified in section 19.