E-commerce operators must submit verified annual statements per Section 167 of the Finance Act, 2016, or face compliance notices.
Section 167 of the Finance Act, 2016 mandates that every assessee or e-commerce operator must submit a statement to the Assessing Officer or an authorized entity after each financial year. This statement should be in the prescribed form, verified appropriately, and include specified details about services or e-commerce activities. If the statement is not submitted on time or contains errors, a revised statement can be filed within two years from the relevant financial year. If the statement is not furnished, the Assessing Officer may issue a notice requiring submission within a specified period.
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