Largest and fastest growing business Portals
Tweet
36. Examination of return. –
(1) The concerned officer shall examine according to the procedure prescribed by rules, the return submitted by a person under section 35 as soon as possible and, on examination, if it is proved that value added tax or, where applicable, value added tax and supplementary duty paid by him is less than the value added tax or, where applicable, value added tax and supplementary duty payable under this Act, the said officer shall direct the person, by order, to pay within seven days of the receipt of the order, the unpaid amount of Value Added Tax or, where applicable, value added tax and supplementary duty,
(a) in the case of supply of goods; by adjustment in the Current Account; and
(b) in the case of providing of service, in the manner determined by the officer in this behalf.
(2) If, on examination under sub-section (1), it is proved that the person has paid value added tax or, where applicable, value added tax and supplementary duty more than the amount of value added tax or, where applicable, value added tax and supplementary duty payable under this Act, the concerned officer shall, by order, give an opportunity to, the person to adjust the excess value added tax or, where applicable, value added tax and supplementary duty, against the amount of value added tax or, where applicable, value added tax and supplementary duty payable in the next tax period.
(3) During examination of a return submitted under section 35, if the concerned officer considers it necessary to determine proper input-output co-efficient of any taxable goods, or finds that the taxable goods or service provided and the money received from it have been shown less than actual quantity of the goods or service and amount of money, he may take step for necessary scrutiny to determine the correct input-output coefficient of the goods or service and the amount of money received from it.
(4) In a case where a registered person fails to submit a return under section 35, or provides information in the return submitted under the said section, which is incorrect or he has reason to believe it to be incorrect, as a result of which the amount paid as value added tax or, where applicable, value added tax and supplementary duty becomes less than the actual or, in the case of export, demands more drawback than the actual amount, the concerned officer may, without prejudice to the provisions of penalties under this Act or the Rules and after giving to the person a reasonable opportunity of being heard, determine the payable amount of value added tax or calculate the amount of drawback on the basis of the information collected by any value added tax officer or on the basis of scrutiny made under subsection (3) and the payment of value added tax or, where applicable, value added tax and supplementary duty so determined or
calculation of drawback so made shall be obligatory to the person.
Golden Bangladesh is a point of access to information.We present information from diverse sources in a unified way. It is the leading web portal, e-Directory and business guide in Bangladesh.
Leave a Comment