For this purpose, section 73 and 74 of the Act are applicable. Section 73 will apply when there is a recovery of tax which is short paid or not paid, as well as any amount that is erroneously refunded or any input tax credit wrongly availed when done for any reason apart from fraud, misstatement, or suppressing facts. However, if the underlying purpose is suppression of facts, fraud, and mis-statements, then section 74 will apply.
- Who is the person responsible to make assessment of taxes payable under the Act?
- Under what circumstances can provisional assessment be done?
- In what form and manner should the taxable person make a request for provisional assessment?
- Can the proper officer ask for additional documents/clarification upon receipt of request for provisional assessment? If so, how? Whether he has to issue any order for allowing provisional assessment?
- Is it mandatory for the applicant to appear before the proper officer in such cases?
- Is there any time limit within which the order for provisional assessment has to be issued by the proper officer?
- In case the amount of tax determined at the time of final assessment is higher than the tax paid at the time of provisional assessment, should the taxable person pay interest on the entire amount of tax (as finalised) from the initial due date of payment?
- In what manner will returns be scrutinized under GST?
- What is the time limit for the taxable person to respond to such notice?
- In case the taxable person accepts the discrepancies, how should he comply?
- Which are the applicable sections for the purpose of recovery of tax short paid or not paid or amount erroneously refunded or input tax credit wrongly availed or utilized?
- In what form and manner will the demand notice be issued?
- What if a person chargeable with tax, pays the amount along with interest before issue of show cause notice under section 73?
- What is the form and manner in which payment of tax/interest/penalty before issue of notice under Section 73 or 74 will be communicated by the taxable person?
- What is the course of action, if the assessee has not paid the tax or short paid or erroneously refunded or input tax credit wrongly availed or utilised by reason of fraud or any wilful misstatement or suppression of facts?
- What is the time limit for issuance of SCN in light of the above circumstances?