3. 23(3) Return not filed by prescribed date by dealer years from records stay,. order officer for stay & appeal (3A) Returns filed on ti

Size: px

Start display at page:

Download "3. 23(3) Return not filed by prescribed date by dealer years from records stay,. order officer for stay & appeal (3A) Returns filed on ti"

Scarlett Lee
5 years ago
Views:

1 MVAT Assessments u/s 23 of MVAT Act, 2002 in a glance. Tabular presentation of MVAT Assessments procedures u/s 23 of MVAT Act, 2002 ( as amended in Budget, 2015) for quick reference at a glance: SR.NO. SECTION DESCRIPTION NOTICE FM 1. 23(1) Ex Party Assessment, where return is not filed by dealer. Order is passed without giving reasonable opportunity of being heard to dealer. NA TIME LIMIT F PASSING DER 3 years from, POST ASSESSMENT REMEDY - Pay taxes - File return - Automatically gets cancelled. TIME LIMIT F REMEDY Refer Circular 12T of No time limit specified. FM F REMEDY Normal return Forms (2) Return filed on time but Commissioner needs to check claims of return so submit all details as asked in notice years from stay,. Assessing Officer for stay & appeal.

2 3. 23(3) Return not filed by prescribed date by dealer years from records stay,. order officer for stay & appeal (3A) Returns filed on time or returns not filed on or before prescribed date (Assessment for period ending on or up to ) Years from end Of Period. stay, been served order stay & appeal

3 5. 23(4) Failed to apply for registration within prescribed period or not registered at all though liable i.e. URD Asst Years from Period. stay, stay & appeal 6. 23(5) Issued based/ Transaction based Audit/ Asst. or during course of any proceedings if commissioner is satisfied that re is tax evasion in any manner Years from Period. (As amended by Budget, 2015) (As amended by Budget, 2015) (As amended by Budget, 2015)

4 stay, stay & appeal (6) Commissioner of opinion that any turnover of sales or of purchase has not been disclosed or sales suppression or tax paid at lesser rate or wrongly setoff/ deduction claimed Years from year stay, passed by him has been served (7) Fresh Assessment for giving effect to direction/ findings of made under this act or by tribunal/ High Court/ Supreme Court (8) Calls for all records & pass order though in similar matter Tribunal has given decision against Commissioner/ State Govt. & S.G. has filed appeal. Nil 36 months from date intimating said findings or directions. No order of recovery till final decision (9) Cancelled WEF 26/06/2014. Nil stay & appeal. Nil Nil Nil Nil Nil Nil

5 11. 23(10) Dealer may be assessed under single notice & by single order, if assessed for more than one period covered by return so long all period are comprised in one year (11) Cancellation of Asst. Order passed u/s 23(2), 23(3), 23(3A), 23(4) & 23(5). (As amended by Budget, 2015) Nil Nil Nil Nil Nil NA 18 months from date/ deemed date of serving cancellation order in Form 317. Apply in Form for cancellation of order Cancellation order within 3 months, if not cancelled than deemed to be cancelled at end of 3 months, 30 Days from order, 3 months from end of month in which application in Form received from dealer. 317 Complete Fresh Asst. within 18 months from date / Deemed Date of cancellation (12) Fresh order in place of order cancelled on 23(11). Complete Asst. within 18 months from date / deemed date of cancellation

6 Name: CA. Viral K. Chheda Id:

VAT ASSESSMENTS CA DILIP PHADKE

VAT ASSESSMENTS CA DILIP PHADKE 1) What is the meaning of assessment? 2) Change of concept of assessment under Vat as compared to BST 3) Importance of Section 23 under Vat Act? 4) Any proceeding can be