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CMA Intermediate · Direct and Indirect Taxation · Returns and Payment of Taxes

Which statement about section 62 assessment of non-filers is correct under the CGST Act, 2017?

Section 62 applies despite sections 73, 74 or 74A when a registered person fails to furnish the return under section 39 or 45 even after a notice under section 46. A prior notice is required, and no bond or guarantee is involved.

  1. AIt applies notwithstanding sections 73, 74 or 74A, where the return under section 39 or 45 is not filed even after a section 46 noticeCorrect
  2. BIt applies before any notice under section 46 is issued
  3. CIt applies only to persons who failed to file the annual return under section 44
  4. DIt requires the person to furnish a bond and bank guarantee

Explanation

Section 62(1) operates notwithstanding sections 73, 74 or 74A and is triggered by failure to file the return under section 39 or 45 even after a section 46 notice. Bond and guarantee belong to provisional assessment, not this section.

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