Section 150 – Obligation to furnish information return of CGST ACT, 2017<\/p>\n
150. (1) Any person, being\u2014
\n(a) a taxable person; or
\n(b) a local authority or other public body or association; or
\n(c) any authority of the State Government responsible for the collection of value
\nadded tax or sales tax or State excise duty or an authority of the Central Government
\nresponsible for the collection of excise duty or customs duty; or
\n(d) an income tax authority appointed under the provisions of the Income-tax
\nAct, 1961; or
\n(e) a banking company within the meaning of clause (a) of section 45A of the
\nReserve Bank of India Act, 1934; or
\n(f) a State Electricity Board or an electricity distribution or transmission licensee
\nunder the Electricity Act, 2003, or any other entity entrusted with such functions by
\nthe Central Government or the State Government; or<\/p>\n
(g) the Registrar or Sub-Registrar appointed under section 6 of the Registration
\nAct, 1908; or
\n(h) a Registrar within the meaning of the Companies Act, 2013; or
\n(i) the registering authority empowered to register motor vehicles under the
\nMotor Vehicles Act, 1988; or
\n(j) the Collector referred to in clause (c) of section 3 of the Right to Fair
\nCompensation and Transparency in Land Acquisition, Rehabilitation and Resettlement
\nAct, 2013; or
\n(k) the recognised stock exchange referred to in clause (f) of section 2 of the
\nSecurities Contracts (Regulation) Act, 1956; or
\n(l) a depository referred to in clause (e) of sub-section (1) of section 2 of the
\nDepositories Act, 1996; or
\n(m) an officer of the Reserve Bank of India as constituted under section 3 of the
\nReserve Bank of India Act, 1934; or
\n(n) the Goods and Services Tax Network, a company registered under the
\nCompanies Act, 2013; or
\n(o) a person to whom a Unique Identity Number has been granted under
\nsub-section (9) of section 25; or
\n(p) any other person as may be specified, on the recommendations of the Council,
\nby the Government,
\nwho is responsible for maintaining record of registration or statement of accounts or any
\nperiodic return or document containing details of payment of tax and other details of transaction
\nof goods or services or both or transactions related to a bank account or consumption of
\nelectricity or transaction of purchase, sale or exchange of goods or property or right or
\ninterest in a property under any law for the time being in force, shall furnish an information
\nreturn of the same in respect of such periods, within such time, in such form and manner and
\nto such authority or agency as may be prescribed.
\n(2) Where the Commissioner, or an officer authorised by him in this behalf, considers
\nthat the information furnished in the information return is defective, he may intimate the
\ndefect to the person who has furnished such information return and give him an opportunity
\nof rectifying the defect within a period of thirty days from the date of such intimation or
\nwithin such further period which, on an application made in this behalf, the said authority
\nmay allow and if the defect is not rectified within the said period of thirty days or, the further
\nperiod so allowed, then, notwithstanding anything contained in any other provisions of this
\nAct, such information return shall be treated as not furnished and the provisions of this Act
\nshall apply.
\n(3) Where a person who is required to furnish information return has not furnished the
\nsame within the time specified in sub-section (1) or sub-section (2), the said authority may
\nserve upon him a notice requiring furnishing of such information return within a period not
\nexceeding ninety days from the date of service of the notice and such person shall furnish
\nthe information return.<\/p>\n","protected":false},"excerpt":{"rendered":"
Section 150 – Obligation to furnish information return of CGST ACT, 2017 150. (1) Any person, being\u2014 (a) a taxable person; or (b) a local authority or other public body or association; or (c) any authority of the State Government responsible for the collection of value added tax or sales tax or State excise duty … Continue reading “Section 150 – Obligation to furnish information return of CGST ACT, 2017”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[],"_links":{"self":[{"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/posts\/432"}],"collection":[{"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/comments?post=432"}],"version-history":[{"count":1,"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/posts\/432\/revisions"}],"predecessor-version":[{"id":433,"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/posts\/432\/revisions\/433"}],"wp:attachment":[{"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/media?parent=432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/categories?post=432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/tags?post=432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}