Amendment status not verified — confirm the current text below against the official source.
Returns, payment of tax, interest and penalty' (l) Every such dealeras may bercquire'isot0 do by the proscribed autlloily' by notica seraed jn the manner Prescdbed and cvery registcred cleale' (otherthan a dealerrequired by section 16 2'7 (3) to pa)'lax a! a fixed rate in lieu of lhe tax pa)'ab1e by him)' shali fulnish a tl ue und complete relum in respect ofall his transactions rclating to sales, pulchases, receipts and dispatches ol soods in a quarter, on ol before the end of the Inonth ibllowint the end 01'thc quarter rlr the prescdbed authority in such folm andln such mannel as may beprescribed' Every such dealer as may be required so to do by the prescribed authority by notice servd in the manner prescribed and every regisiered dealel (other than lL dealer req uired by section 1 6 topayt&{atalixedrateinlieuolthetaxpayablebyhin.shalllurnishatrueandcomplelc statement in resPec t ol.dl his trans actio s relating !o srles and Ptrch'rses ofgoods and any such details as may be prescrlbecl for each comPleted qua(er on or bctbre lhe end olrhe monti foilowing the end ofthe qLlarler to the prescribed authority in such lbnn and in such manner as may be prescribed Every rcgistered dealer shall furnish to tl'}e prescdbecl authority, on olbeforethedue date' a true and completereturn inrespect ofevery llnanciai year in the form and mannerplescribed Explanation- In this sub section, "duedate" means- (i) where the dealer is a company within the meanlng of tlte Companies Act ' 1956 (Act I of 1956). the 30'r'day ofNovember olthe yearfollowing the year to $'hich such return rclatei (li) where the dealer is a person, other than a company- (a) in acase where the accounts olthe 'lealer are required !'nder this Actor any otherlaw to be auclited, the 3l'' day ofOctober ollhe year tbllou ing lllc year to wlrich such retul relates; (b) in any other case' 3l'r day ofJuly ofthe yedrlollowjng the year to which such rcturn Ield'e' (4) Every dealer required by sectio n l6topaytaxatafixedrateinlleuofthetaxpayablebyhirn shall file a quertelly abstmct stalemenlforeach completed quarter on or before the end oltlic month following the end of the quafier to the Prescribed authority in such form and in such manner as may be Prescribed (5) Iffie last day prcscribcdforthe filing ofquarterly statemen or monthly l etu(lr happens to bc aholiday, thenextdateon whichthe olliceopens shall bedeemed to be the lasl day' (l) 28 a \ot\\'ithstand ing anything contai ned i n sub'seclion ( 1) or (2) the prescibed authodty m^y lor specific rcasons lo be rccorded in wdling, extend llre date offiling such retum or quar_ter1y staten'lent, as thecase may be, subjeclLothe condition thatsuch an extension n'lay be allowed onl], once ancl lor a peliod,11)1 exceeding thifiy days from lhe dne date] Pr-o\ ided ll'tat the Comllissioner may allow extension beyond lllirty days lbrreasons to be recorded in riii;ng subiect Io theconcliliorl lhatsuoh an extension maybe allowed only once andthatalso foraperiod norexcecding threemonths- (7) Ifadeaier having lulnished a quanerly retum under sub-section ( I) orthe quafierly slatemcnl undersub_section (2) discoverc any omission orwrcng statement lherein he ma1 lurnish a revised relum or statement, as thecasemaybe in the fofln and rnanner prescribed to ihe prcscribcd arilhorily at any time bcfore the dLre date within the meaning ofsuh-section (3): Provided lhal Do such lclurn ol'slatement shallbe laken inlo consider-ation if' unon informa onoi otheN ise and for reasons to be rccorded in wrillrlg' the prescibed authorily is satisfied tiat the retum or "staternent oliginally fln'nished was delillerately false or thatil was furnished with intent to defraud fte State Cover-nmcnt of its rcvenuc. (8) Ifa dealeriails to lumish the relum under sub section (I) orthequa erly statemenlunder sub'section (2), within thctime prescdbed in this l egard the presq ibed authority shall after giving sucl] a.lealcran opportunlly olbeingheald impose a penalty at the Iate of five hund'ed rupces for everyday ofdefault afler the due or extended date' as the case may be' (9) (a) Every dealerliabieto fumish theretun uncler sub-section (1) sllall deposjt the tax payable according to the retulr on or before lhe end ofthe foLlorving month in such manoer and shallenclosc the proofofpaymenl in such fonn as may be presc bed' (b) Eveq/ dealer requil ed by section 16 to Pay tax at a fixcd mte in lieu of lhe tax payable by himshall depositthe tax arived at after applying the rale specified i' thenotification is succl un der section I 6 to hi s q uallcrly turnover' on or bcfore tl'le en'] of the month lollowing the quarler to which it rclates and shall enclosc the proofofpayment in dre form ad rnanncr-prescribed along with the staiemcnll€quir'ed ro be lfinisl]ed undel sub-section (4)' (c) Sub.jeci to thc provisions ofsub-seclion (10)' ifany registercd dealer submits a revised return under sub-section (7) and ilthe anounl oftax due ftom such dealer accolding to the 29 :) (3) (4) :s e:rlier- upon so nluch ofthe amount oftax Payablc by him according to stlch Dotice as rernai su paid attheend ofcach sllchn1onih ofdefault. A.l.3ler liable to p.ly inlcres! uncler sub-section (I) oI lhis secrion shall, in lhc prescribcd manner. pay into a Govcrnment Treasury or lhe State Bank olSikkinl or any olher bank as maybe nodlledby the Governoent the anlolratol inleleslpeyablc by olduetiom,hilnby such date as maybe prescribed Where as aresult of an or.ler undcr section 74. section 75. section 76 of se'!ion l7 lhc amount ol t:Lx payable is modified, tlle inlerestprlyable undersub-section (l) shrlLbe delenrined on the birsis ofsuch mbdille.l arnount and lhe excess interest paid' il any shall be reiilnded' Interest under sub secrion (l) shall be payable in respec! oI assessmen t notices fbr\{hi'h irre issued uncler seclion 41. on oralier the appoinled day. I