It is very interesting issue and needs immediate attention of the readers, so that the dealer as well as the assessing officer can get rid of unwarranted situation.
I would take the oppotunity to initiate the discussion:-
Section-24 relating to 'Periodical Returns and payment of tax' says as follows:-
1. Every registered dealer and every dealer liable to pay tax shall furnish a correct and complete tax return in such form for such period, by such dates and to such authority, as may be prescribed:
2. Every registered dealer and every dealer liable to pay tax shall furnish, in addition to the tax return, if any, furnished under subsection (1), a correct and complete annual return in the prescribed form within such time as may be prescribed.
3. If ............dealer.
4. If any dealer having furnished a tax return or an annual return under this section, discovers any omission or any other error in the return so filed, he may without prejudice to the charge of any interest, furnish revised tax return or revised annual return, as the case may be, in the prescribed manner and within the prescribed time.
Rule 17(8):
In case of discovery of any omission or any other error in the tax return or annual return filed, the dealer may furnish a revised tax return or the revised annual return, as the case may be, within a period of six months from the due date of submission of tax return or annual return, as the case may be:
Provided that, no revised tax return or revised annual return shall be entertained if the case has been taken up for audit assessment and notice to that effect has already been served on the dealer.
Hence, it is very much clear that as per section and rule, revised returns can be submitted only within 6 months of.............. But the question arises, what should be done, if a dealer realises/ dicates some mistakes after time period of 6 months? Act and rules are silent on this issue.
Contd.....2
