In Schedule III appended to the said Act, for the existing entry at serial number (1), the following entry shall be substituted, namely:-
"(1) Where proprietor provides accommodation for commercial purposes and collects,-
(i) charges not exceeding Rs. 500/- per day. => Nil.
(ii) charges for accommodation provided on leave and license basis for a period not exceeding six months. => 5% of the receipt.
(iii) charges for accommodation provided on leave and license basis for a period exceeding six months. => Nil.
(iv) charges, in cases not covered in (i) to (iii) above, and exceeding Rs. 500/- per day. => 5% of the receipt.
Note: When accommodation is provided otherwise than on daily basis, then, the charges for the same shall be determined by dividing the total charges by number of days for which the accommodation is so provided".