Assessment of non-filers of returns, Sec 62 of CGST Act, 2017
Click here to know GST rate of your goods or service
The below post explains about Assessment of non-filers of returns under section 62 of CGST Act,2017.
Section 62 of CGST Act, 2017 explains Assessment of non-filers of returns as below: (The amendments if any will also be updated here soon).
The extract of Section 62 of CGST Act,2017 quoted below:
62 Assessment of non-filers of returns.
62. (1) Notwithstanding anything to the contrary contained in section 73 or section 74,
where a registered person fails to furnish the return under section 39 or section 45, even after
the service of a notice under section 46, the proper officer may proceed to assess the tax
liability of the said person to the best of his judgement taking into account all the relevant
material which is available or which he has gathered and issue an assessment order within a
period of five years from the date specified under section 44 for furnishing of the annual
return for the financial year to which the tax not paid relates.
(2) Where the registered person furnishes a valid return within thirty days of the
service of the assessment order under sub-section (1), the said assessment order shall be
deemed to have been withdrawn but the liability for payment of interest under sub-section
(1) of section 50 or for payment of late fee under section 47 shall continue.
The above information clarifies about Assessment of non-filers of returns under section 62 of CGST Act,2017.
If you have any comments about Section 62 of CGST Act, 2017 explaining Assessment of non-filers of returns, share below your thoughts:
GST Exemption list of goods and services
Find HSN number or Service tariff code for GST
Indian GST Laws
How to export your goods?
How to get Export Order?
GST Registration Guidelines
Learn Imports and Exports business free of cost
Find HSN code of your product.
Manner of recovery of credit distributed in excess, CGST Act,2017
Persons not liable for registration CGST Act, 2017
CGST Act, 2017 Procedure for registration
Deemed registration, CGST Act, 2017
Amendment of registration CGST Act, 2017
CGST Act, 2017 Cancellation of registration
CGST Act, Tax invoice
Amount of tax to be indicated in tax invoice and other documents
GST rate for tramway rolling stock and parts, Vehicles other than railway
Rate of GST applicable for Aircraft and parts, spacecraft and parts
GST payable for sale of Boats, floating structures and ships
GST for Medical, Surgical, optical, photographic and cinematographic products
GST payable for Watches, clocks, watch parts and clock parts
Rate of GST payable for sale of Musical instruments, parts and accessories
How to export goods from India?
GST refund for deemed exporters
Documents required for GST refund for service exporters
Verification of documents for refund of GST to exporters
Refund of GST to Exporter, Documents required to be enclosed
Process of GST refund to Exporter
How to get refund of GST tax paid by an Exporter?
What is GST Tax rate for Exports
GST and Exports, how is taxes reimbursed on Exports?
Travelers to India under import duty exemption, Frequently Asked Questions Part 2
Triangular export
Triangular shipment
Types of Insurance Documents.
What is Provisional Assessment in Import formalities in India?
What is said to contain in Bill of Lading.
What is Said to weigh in Bill of Lading
What is second appraisement of import clearance procedures
What is self assessment in import customs clearance in India?