Tax Assessment Under Section 62: File Returns on Time to Avoid Penalties and Interest Under GST Act 2017.

Under Section 62 of the Gujarat Goods and Services Tax Act, 2017, if a registered person fails to file returns under sections 39 or 45 despite receiving a notice under section 46, the proper officer can assess the tax liability based on available information. This assessment must be completed within five years from the due date for the relevant annual return. If the registered person submits a valid return within 30 days of the assessment order, the order is withdrawn, but interest and late fees remain applicable under sections 50 and 47, respectively.

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