Chapter-VI

Returns, Assessment, Re-Assessment and Payment of Tax

24. Returns, Payment of Tax, Interest and Penalty

(1) Every person, being —

(a) a dealer, who is not registered under this Act, by a notice served in the manner prescribed by the prescribed authority;

(b) a registered dealer (other than a dealer permitted by sub-section (1) and subsection (4) of section 15 to pay tax at a fixed rate in lieu of the tax payable by him),

shall furnish a true and complete return in respect of all his transactions relating to sales, purchases, receipts and dispatches of goods and any other transactions prescribed specifically for each quarter, on or before the end of the month following the end of the quarter.

(2) Without prejudice to the provisions contained in sub-section (1), every person, being —

(a) a dealer, who is not registered under this Act, by a notice served in the manner prescribed by the prescribed authority;

(b) a registered dealer (other than a dealer permitted by sub-section (1) and subsection (4) of section 15 to pay tax at a fixed rate in lieu of the tax payable by him),

shall furnish a true and complete statement in respect of all his transactions relating to sales and purchases of goods and any such details as may be prescribed for each completed quarter on or before the end of the month following the end of the quarter to the prescribed authority in such form and in such manner as may be prescribed.

(3) Every registered dealer shall furnish to the prescribed authority, on or before the due date, a true and complete return in respect of every financial year in the form and manner prescribed.

Explanation: In this sub-section, due date means —

(a) where the dealer is a company within the meaning of the Companies Act, 1956, the 30th day of November of the year following the year to which such return relates;

(b) where the dealer is a person, other than a company —

i. in a case where the accounts of the dealer are required under this Act or any other law to be audited or where the report of an accountant is required to be furnished under section 54, the 31st day of October of the year following the year to which such return relates;

ii. in any other case, 31st day of July of the year following the year to which such return relates.

(4) Every dealer who has been permitted to pay tax under sub-section (1) and sub-section (4) of section 15 shall file a quarterly abstract statement for each completed quarter on or before the end of the month following the end of the quarter to the prescribed authority in such form and in such manner as may be prescribed.

(5) If the due date prescribed for the filing of quarterly statement or quarterly abstract statement or annual return happens to be a holiday, the next date on which the office opens shall be deemed to be the due date.

(6) Notwithstanding anything contained in sub-section (1A) or sub-section (2), the prescribed authority may, for specific reasons to be recorded in writing, extend the date of filing such return or quarterly statement, as the case may be, subject to the condition that such an extension may be allowed only once and for a period not exceeding thirty days from the due date; but the Commissioner may allow extension beyond thirty days for reasons to be recorded in writing subject to the condition that such an extension may be allowed only once and that also for a period not exceeding three months.

(7) If a dealer having furnished a quarterly return under sub-section (1A) or the quarterly statement under sub-section (2), discovers any omission or wrong statement therein, he may furnish a revised return or statement, as the case may be, in the form and manner prescribed to the prescribed authority at any time before the due date within the meaning of sub-section (3).

Provided that no such return or statement shall be taken into consideration if, upon information or otherwise and for reasons to be recorded in writing, the prescribed authority is satisfied that the return or statement originally furnished was deliberately false or that it was furnished with intent to defraud the State Government of its revenue.

(8) If a dealer fails to furnish the return within the time specified under sub-section (1A) or the quarterly statement under sub-section (2) or the quarterly abstract statement under subsection (4), the prescribed authority shall, after giving such a dealer an opportunity of being heard in the manner prescribed, impose a penalty at the rate of twenty-five rupees for every day of such failure.

(9) (a) Every dealer, other than a dealer permitted to pay tax under sub-section (1) and sub-section (4) of section 15, shall deposit the tax payable in respect of every month on or before the fifteenth day of the following month in such manner as may be prescribed and shall furnish the proof of payment in the form and manner prescribed.

(b) Every dealer permitted to pay tax under sub-section (1) and sub-section (4) of section 15 shall also deposit the tax, arrived at after applying the rate specified in the notification issued under section 15 to his quarterly turnover, on or before the fifteenth day of the month following the quarter to which it relates and shall enclose the proof of payment in the form and manner prescribed along with the statement required to be furnished under sub-section (4).

(c) Subject to the provisions of sub-section (10), if any registered dealer submits a revised return under sub-section (7) and if the amount of tax due from such dealer according to the revised return is higher than the amount which was due according to the original return, such revised return shall be accompanied by a receipt showing the payment of extra amount of tax in the manner provided in clause (a).

(10) If a dealer, required to furnish the return under sub-section (1A) or statement under subsection (4), fails to pay the amount of tax payable according to the provisions of subsection (9), such dealer shall be liable to pay interest -

(a) in respect of tax payable under sub-section (9), by him in accordance with the return or the quarterly abstract statement or revised return, as the case may be; or

(b) in respect of the tax payable for the period for which he has failed to furnish returns under sub-section (1) or quarterly abstract statement under sub-section (4),

at the rate of one and a half percent per month of the amount due from the date the tax so payable had become due to the date of its payment.

Explanation: For the purposes of this sub-section —

(i) where the period of default in payment of tax covers a period less than a month, the interest payable on such tax in respect of such period shall be computed proportionately;

(ii) month shall mean thirty days.

(11) Any interest levied or penalty imposed under this section shall be without prejudice to any action, which is or may be taken under section 81.

(12) A rebate at the rate of half percent of the amount of tax admitted to be due in the return furnished under sub-section (1A), subject to a maximum of fifty thousand rupees in a year shall be allowed to a registered dealer who has furnished the return within the due dates specified under this section and has paid such amount in full on or before the date specified for payment of tax under this section.