Assessment of tax

(1) Every dealer liable to pay tax under this Act shall be assessed by the prescribed authority who shall be the same as the prescribed authority under the Jharkhand Value Added Tax Act, 2005. (1A) (Omitted by law) (2) If the prescribed authority is satisfied that the returns furnished by a dealer are correct and complete, he shall accept the returns. If the prescribed authority has reason to believe that the returns are incorrect or incomplete, he shall serve a notice on the dealer requiring him to produce evidence in support of such return and shall, after giving him a reasonable opportunity of being heard, pass an order of assessment under the provisions of the Jharkhand Value Added Tax Act, 2005. (2A) The assessment or re-assessment shall be made in such manner as may be prescribed. (1) If the prescribed authority, in course of any proceeding or otherwise is satisfied that any assessee :- (a) has concealed any value of goods consumed or used or particulars thereof, with an intention to reduce amount of tax payable by him under this Act; or (b) has furnished incorrect statement of value of goods consumed or used in the return furnished under sub-section (2) section 9; the prescribed authority shall, after giving such assessee an opportunity of being heard, and by an order in writing, direct that he shall in addition to any tax which is or may be assessed under section 11, pay by way of penalty, a sum not exceeding two times but not less than equal to amount of tax, on concealed amount of tax or incorrect particulars. (2) The penalty under sub-section (1) may be imposed before completion of assessment and for determining the amount of penalty, the prescribed authority may determine the amount of tax payable provisionally.