Amendment status not verified — confirm the current text below against the official source.
Assessment of non-filers of returns.- (1) Notwithstanding anything to the contrary contained in section 73 or section 74 [or section 74A]193, 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. (2) Where the registered person furnishes a valid return within [sixty days]194 of the service of the assessment order under 192 Inserted vide The RGST (Amendment) Ordinance, 2024, dated 11.12.2024 w.e.f. 01.11.2024. 193 Inserted vide The RGST (Amendment) Ordinance, 2024, dated 11.12.2024 w.e.f. 01.11.2024. 194 Substituted w.e.f. 01.10.2023 vide RGST Amendment Act, 2023 dated 04.08.2023 before substitution it reads as under " thirty days " Page 106 of 217 sub-section (1), the said assessment order shall be deemed to have been withdrawn but the liability for payment of interest under sub- section (1) of section 50 or for payment of late fee under section 47 shall continue: [Provided that where the registered person fails to furnish a valid return within sixty days of the service of the assessment order under sub-section (1), he may furnish the same within a further period of sixty days on payment of an additional late fee of one hundred rupees for each day of delay beyond sixty 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in case he furnishes valid return within such extended period, the said assessment order shall be deemed to have been withdrawn, but the liability to pay interest under sub-section (1) of section 50 or to pay late fee under section 47 shall continue.]195