Wednesday, 30 May 2018

Kerala Govt. issues guidelines for timebound scrutiny & assessment of Presumptive Tax Dealers

Kerala Govt. issues instructions to streamline the scrutiny and VAT assessment of Presumptive Tax dealers, so that all pending assessments are completed in time bound manner to ensure that legitimate tax is remitted to Govt. exchequer; Directs completion of assessment of various years from 2011 to 2016 in time series after completing each year separately, while laying down an action plan in this regard; States, no undue adjournments shall be given for submission of returns or other relevant records as the dealer has already taken years, whereas “More than two adjournments to be given only with the permission of the Deputy Commissioner based on genuine reasons”; Since assessments are mandatory before applying for amnesty scheme announced by Govt. for Presumptive Tax dealers, the Scrutiny Module may be used efficiently; Along with pre-assessment notice, print of amnesty calculation also may be given to encourage dealers to opt for amnesty immediately in view of June 30, 2018 deadline : Kerala Govt. Circular 

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