The Central Government may, by notification No. {90/4 Tex.1/48 (I) dated the 2nd march, 1948, Gazette of India, 1948, Extraordinary, p.407.} in the Official Gazette, levy on any cloth or yarn held in stock by a producer or a wholesale dealer on such date as the Central Government may fix in this behalf a cess at such rate as may be specified in the notification.