TMI BlogProcessing of Equalisation Levy StatementX X X X Extracts X X X X X X X X Extracts X X X X ..... l be computed after making the adjustment for any arithmetical error in the Equalisation Levy Statement ; (b) the interest, if any shall be computed on the basis of sum deductible or payable, as the case may be, as computed in the Equalisation Levy Statement; (c) the sum payable by, or the amount of refund due to, the assessee or e-commerce operator shall be determined after adjustment of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ly the revised Equalisation Levy Statement and no further action shall be taken on the original Equalisation Levy Statement if it has not already been processed. (3) The Commissioner may, (a) adopt appropriate procedure for processing of Equalisation Levy Statements; or (b) decide the order of priority for processing of Equalisation Levy Statements based on administrative requirements. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n its own by the Centre by passing a rectification order and the excess amount shall be recovered as per the provisions of sections 220 to 227 , 229 and 232 of the Income-tax Act, 1961 . (7) In a case where there is any sum payable by the assessee or e-ecommerce operator under Chapter VIII of the Act, the refund, if any, arising from processing of the Equalisation Levy Statement, shal ..... X X X X Extracts X X X X X X X X Extracts X X X X
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