Equalisation levy processing: compute liability after arithmetical correction, adjust payments, and notify payable or refundable amount. Processing of statements under the equalisation levy regime requires the tax liability to be computed from a furnished statement after correction of any arithmetical error, with interest calculated on the sum deductible or payable as shown in that statement, and the payable amount or refund determined after adjustment against prior payments or credits, followed by an intimation to the assessee or e commerce operator.
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Provisions expressly mentioned in the judgment/order text.
Equalisation levy processing: compute liability after arithmetical correction, adjust payments, and notify payable or refundable amount.
Processing of statements under the equalisation levy regime requires the tax liability to be computed from a furnished statement after correction of any arithmetical error, with interest calculated on the sum deductible or payable as shown in that statement, and the payable amount or refund determined after adjustment against prior payments or credits, followed by an intimation to the assessee or e commerce operator.
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