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September 2012

Automatic cancellation of unilateral assessment order – Trade Circular No. 12T of 2012 dated 01.08.2012

By Tarun Ghia, Brijesh Cholera, Pratik Mehta Chartered Accountants
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In the present procedure, in the event of failure to file return, assessing authority undertakes the assessment in respect of the period under default. The assessment order is passed in Form-303 known as “unilateral assessment order” and the dealer after filing return or making payment of tax due, applies in Form 304 for cancellation of such UAO.

WEF 01.08.2012, there is no need to file Form 304 for cancellation of UAO. MAHAVIKAS system automatically ascertains the return filing status for a particular period and if filed then the system shall cancel the UAO and will inform the dealer by email. The dealer may also access his e-mail at <Your mail> menu at department’s web-site.

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