Utilisation ofFund.

CHAPTER—XII . ASSESSMENT Every registeredperson shall -self<assess the taxes payable underthisAct and furnish {£63m for each tax period as (1) Subject tothe provisions of sub-section3§(2), where the I (2) (3) specified undersection39. taxable person is unableto determine the value of goods . orservicesor both or determinetherateoftax applicable ' thereto, he mayrequest the proper officer111 writing giving reasonsfor payment oftaxona provisiOnal basis and the proper officer shall pass an order, withina period not laterthan ninetydays fromthedate of receipt of such request,allowingpayment of tax on provisional basis at such rate oronsuchvalueas may be specified by The payment oftax6n provisionalbasismay be allowed, ifthe taxable person executes abond in such formas may be prescribed, andwith such "surety or security asthe - proper officer may deem fit. binding thetaxable person for payment ofthedifference between theamount of ' taxas may be finally assessedand the amount of tax prow‘sionally assessed. 'ihe properofiicer shall, within a period not exceeding six monthsfrom thedateofthecommunicationofthe order issued under sub-section ( 1), pass thefinalassessment orderafter taking intoaccountsuchinformation as may be required for finalizing theassessment: Providedthat the‘periodspecified' in thissub-section may, on sufficient cause being shownandforreasonsto berecorded in writing, beextended by the Joint Commissioner or Additional Commissioner fora further period not exceeding six months and by the Commissionerfor such further period not exceeding four years. (4) The registered person shallbe liable to pay intereston any tax payable on the supply of goods or services both under provisional assessment butnot paid onthe due date‘ specified undersub-section (7) of section39 or the rulesmade thereunder, attherate specified under sub- section (1) ofsection 50, from thefirst day afterthedue date of payment of taxin respect of the said supply Of goods or services or bothtillthedateofactual payment. whether such amount is paid before oraftertheissuance oforder for finalassessment. Self-Assessment.