Section 62 of CGST Act, 2017 Assessment of non-filers of returns

 

Assessment of non-filers of returns, Sec 62 of CGST Act, 2017

 

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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

Section 62 of CGST Act, 2017 Assessment of non-filers of returnsliability 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deemed to have been withdrawn but the liability for payment of interest under sub-section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.  

 

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Comments


dhruv jain: if the person have shut down the business, and got shifted somewhere else, will the firm would get closed officially from the department..

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