13. Assessment and Audit

Q 1. Who is the person responsible to make assessment of taxes payable under the Act?

Q2. Is there any provision in MGL for tax treatment of goods returned by the recipient?

Q 3. ‘A’ supplied goods to ‘B’ in April 2017, these goods were returned by ‘B’ to ‘A’ on June 2017. The tax rate charged by ‘A’ on such goods was 18%. In May 2017, the rate was amended to 18.5%. What is the tax payable on return of such inward supply by
‘B’ to ‘A’?

Q 4. When can a taxable person pay tax on a provisional basis?

Q 5. What is the latest time by which final assessment is required to be made?

Q 6. Where the tax liability as per the final assessment is higher than in provisional assessment, will the taxable person be liable to pay interest?

Q 7. What recourse may be taken by the officer in case proper explanation is not furnished for the discrepancy detected in the return filed under section 45 of MGL?

Q 8. Whether Proper Officer is required to give any notice to taxable person before completing assessment u/s 46?

Q 9. If a taxable person fails to file the return required under law (under section 27 or 31), what legal recourse is available to the tax officer?

Q 10. Under what circumstances can a best judgment assessment order issued under section 46 be withdrawn? Q 11. What is the time limit for passing order u/s 46 and 47?

Q 12. What is the legal recourse available in respect of a person who is liable to pay tax but has failed to obtain registration?

Q 13. Under what circumstances can a tax officer initiate Summary Assessment?

Q 14. Other than appellate remedy, is there any other recourse available to the taxpayer against a summary assessment order?

Q 15. Is summary assessment order to be necessarily passed against the taxable person?

Q 16. Who can conduct audit of taxpayers?

Q 17. Whether any prior intimation is required before conducting the audit?

Q 18. What is the period within which the audit is to be completed?

Q 19. What is meant by commencement of audit?

Q 20. What are the obligations of the taxable person when he receives the notice of audit?

Q 21. What would be the action by the proper officer upon conclusion of the audit?

Q 22. Under what circumstances can a special audit be instituted?

Q 23. Who can serve the notice for special audit?

Q 24. Who will do the special audit?

Q 25. What is the time limit to submit the audit report?

Q 26. Who will bear the cost of special audit?

Q 27. What action the tax authorities may take after the special audit?

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