Vat Actupdated - RS Goyal & Associates
Vat Actupdated - RS Goyal & Associates
Vat Actupdated - RS Goyal & Associates
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33<br />
2 (iii) in respect of a dealer, under clause (a) of sub-section (6) shall be made within a<br />
period of one calendar year from the commencement of proceedings under the said subsection:<br />
2<br />
Provided that -<br />
(a) where a fresh assessment has to be made to give effect to any finding or direction<br />
contained in any order under Sections 46, 47 and 53 or to any order of the Civil Court, High<br />
Court or Supreme Court, such assessment shall be made within a period of one calendar<br />
year from the date of the order containing such finding or direction or the order of the Civil<br />
Court, High Court or Supreme Court, as the case may be;<br />
2 (b) nothing contained in this sub-section shall apply to proceedings initiated under Section<br />
21 or any proceeding other than assessment or re-assessment of tax that may be instituted<br />
under any other provisions of this Act. 2<br />
(8) Notwithstanding anything contained in sub-section (7), where assessment or reassessment<br />
proceedings in respect of any dealer relating to any period cannot be completed<br />
before the expiry of the period specified therefor in the said sub-section, the State<br />
Government, may by notification, for reasons to be recorded in writing, extend the period for<br />
the completion of such assessment proceedings in respect of such dealers by such further<br />
period as may be specified in such notification.<br />
(9) (a) where, a registered dealer claims refund of tax or input tax rebate in his return for any<br />
quarter or return or returns for any year and makes an application for his assessment for that<br />
quarter or that year but his assessment is not completed within the time specified in the<br />
proviso to sub-section (1) the claim made in the return or returns for that quarter or year shall<br />
stand accepted and such dealer shall be entitled to the refund of the amount of the tax or<br />
input tax rebate..<br />
(b) where the assessment for any year of a registered dealer,-<br />
(i) other than a registered dealer referred to in the proviso to sub-section (1), and<br />
(ii) a registered dealer who has not furnished any return or returns for that year,<br />
is to be made under the provisions of sub-section (4) or sub-section (5) is not made within<br />
the time provided in sub-section (7) or within the time extended under sub-section (8), then,-<br />
(a) the returns furnished by the registered dealer in (i) above shall stand accepted<br />
and he shall be deemed to have been assessed for the purpose of the Act.<br />
(b) the assessment of the registered dealer in (ii) above shall become time-barred.<br />
2 Section 20-A.Self assessment<br />
(1) Where a registered dealer other than the registered dealer referred to in the<br />
proviso to sub-section (1) of section 20 has furnished, -<br />
(a) all returns or revised returns for any period of a year in the prescribed<br />
manner and within prescribed time or before,<br />
(i) 31 st July of the subsequent year, in case of such dealer whose<br />
annual turnover does not exceed rupees forty lacs;<br />
(ii) 31 st October of the subsequent year, in other cases;<br />
(b) has paid the tax payable according to such returns or revised returns as<br />
also interest payable, if any; and<br />
(c)<br />
has furnished the statement under clause (b) of sub-section (1) of section<br />
18 within the prescribed time,<br />
the returns or the revised returns furnished by such dealer for that year, subject to<br />
compliance of requirements made in the notice issued under the provisions of subsection<br />
(5) of section 18 and sub-section (6) of section 19, shall be accepted and his<br />
assessment shall be deemed to have been made for the purpose of sub-section (1)