Equalisation Levy processing rules require adjusted computation, interest calculation, time barred intimations, refunds and set off against liabilities.

Centralised processing requires correction of arithmetical errors, computation of interest on sums payable or deductible, determination of payables or refunds after offsetting prior tax or interest payments, and granting refunds. Intimations are barred after one year from the end of the financial year in which the (revised) statement was filed. Only revised statements are processed; the Commissioner may prescribe procedures or priorities, unprocessable statements are sent to the Assessing Officer, and the Centre may rectify processing errors and recover any excess refunds under the recovery provisions. Refunds are subject to set off against Chapter VIII liabilities.

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