CA Final · Indirect Tax Laws · Returns
Under section 61, a registered person, Anil Steels, was informed of discrepancies in its return. It gave no satisfactory explanation within thirty days of being informed. Which action may the proper officer take?
The proper officer may initiate appropriate action, including audit under section 65, special audit under section 66 or inspection under section 67, or proceed to determine tax and other dues under section 73 or 74. Section 61(3) permits this when no satisfactory explanation comes within thirty days.
- AInitiate appropriate action including under section 65, 66 or 67, or determine tax and dues under section 73 or 74Correct
- BOnly close the matter, as no further action is allowed after thirty days
- COnly cancel the registration with immediate effect
- DWait for ASMT-12 to be filed by the person before any action
Explanation
Section 61(3) states that where no satisfactory explanation is furnished within thirty days of being informed, or such further period as permitted, or where the person after accepting the discrepancies fails to take corrective measures in the return for the month of acceptance, the officer may initiate appropriate action including under section 65, 66 or 67, or proceed to determine tax and dues under section 73 or 74 (or 74A as inserted).
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