Rectification of cst order karnataka vat
Sudhir Lohar
(Querist) 24 June 2015
This query is : Open
Respected Sir/Madam,
We are a registered dealer under Karnataka VAT.
For Quarter Jan-Mar'06 a particular inter state dealer did not issue the C Form on time.The AO completed the Assessment and recovered the difference tax & penalty.
Date of order 7/7/2010.
However the dealer, after rigorous follow up has submitted the C form.
Can we go for rectification of the CST order with the AO or appear before the JC appeals.In the light of section 40 of the KVAT Act,which states as under:
40. Period of limitation for assessment.
-
An assessment under section 38 or re
- assessment under Section 39 of an
amount of tax due for any prescribed tax period shall not be made after five
years after the end of the prescribed tax period.
Provided that an assessment or reassessment relating to any tax period upto the period ending 31st day of March, 2007 shall be made with in a period of eight years after the end of the prescribed tax period.
Provided further that an assessment or reassessment relating to any tax period commencing from the 1st day of April, 2007 upto the period ending 31st day of March, 2012 shall be made within a period of seven years after the end of the prescribed tax period.
(2) Notwithstanding anything contained in sub - section (1), if any tax is, not paid by a dealer who has failed to get registered though liable to do so or fraudulently evaded attracting punishment under Section 79, an assessment or reassessment may be made within eight years from the end of the prescribed tax period.
Provided that an assessment or reassessment relating to any tax period upto the period ending 31st day of March, 2007 shall be made under
this sub-section within a period of ten years after the end of the prescribed
tax period.
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Substituted by Act 17 of 2012 w.e.f. 1.4.2012.
Kindly guide us in the matter.
