Section 62 of CGST Act

Assessment of non-filers of returns

 

 

Enforced with effect from 1-7-2017.

 

Section 62 (1)

 

Notwithstanding anything to the contrary contained in section 73 or section 74, or section 74A 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.

 

[Inserted by the Finance (No. 2) Act, 2024, w.e.f. 1-11-2024].

 

Section 62 (2)

 

Where the registered person furnishes a valid return within thirty days sixty 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of the service of the assessment order under sub-section (1), the said assessment order shall be deemed to have been withdrawn but the liability for payment of interest under sub- section (1) of section 50 or for payment of late fee under section 47 shall continue:

 

[Substituted for "thirty days" by the Finance Act, 2023, w.e.f. 1-10-2023].

 

Provided that where the registered person fails to furnish a valid return within 60 days of the service of the assessment order under sub-section (1), he may furnish the same within a further period of 60 days on payment of an additional fees of Rs. 100 For each day of delay beyond 60 days of the service of the said assessment order and in case he furnishes valid return within such extended period, the said assessment order shall be deemed to have been withdrawn, but the liability to pay interest under sub-section (1) of section 50 or to pay late fee under section 47 continues.

 

[Inserted by the Finance (No. 2) Act, 2024, w.e.f. 1-11-2024].

 

  • See also –
  • Rule 100(1); and
  • Rule 142 of the CGST Rules, 2017; and
  • Form Nos. ASMT-13, DRC-07 and DRC-08 of the CGST Rules, 2017.

 

 

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