Amendment status not verified — confirm the current text below against the official source.
Amendment of Section 16: After sub-section (4) of Section 16, the following sub-sections shall be inserted: Section 16 (5): All assessment under this section shall be completed within a period of two years. It the assessment cannot be completed within the stipulated period of two years after submission of return by any dealer, the return submitted by the dealer shall be deemed to be the finally assessed turn over for the purpose of paying the tax under this Act. Section 16 (6): Provision of sub-section (5) of this Section shall be without prejudice to section 17,18 and 19 ofthis Act.