GST Jamku AIInitiation of recovery proceedings.
Section 78
Any amount payable by a taxable person in pursuance of an order passed under this Act shall be paid by such person within a period of three months from the date of service of such order failing which recovery proceedings shall be initiated:
Provided that where the proper officer considers it expedient in the interest of revenue, he may, for reasons to be recorded in writing, require the said taxable person to make such payment within such period less than a period of three months as may be specified by him.
In accordance with the provisions of this Act, any amount owed by a person subject to taxation must be paid within three months of receiving the order. Failure to comply within this timeframe will result in the initiation of recovery proceedings.
Payment Deadline: The taxable person is required to settle the amount specified in the order within three months from the date of receiving the order. This time limit is crucial, and adherence to it is necessary to avoid further complications.
Flexibility Provision: However, there is a provision for flexibility. In situations where the proper officer deems it beneficial for revenue interests, they can, with recorded reasons, instruct the taxable person to make the payment within a period less than three months. This flexibility allows for adjustments based on specific circumstances.
Conclusion: It is essential for taxable individuals to be aware of these timelines and provisions to ensure compliance with the law. Timely payments contribute to the smooth functioning of the tax system and prevent unnecessary complications for all parties involved.