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of <h1>Section 62: Tax Liabilities Assessed for Non-Filing Under CGST Act 2017, Penalties Apply Despite Filing Extensions.</h1> Section 62 of the Central Goods and Services Tax Act, 2017, addresses the assessment of tax liabilities for registered persons who fail to file returns under sections 39 or 45, even after receiving a notice under section 46. The tax officer may assess the liability based on available information and issue an order within five years from the specified date for filing the annual return. If the person files a valid return within sixty days of the assessment order, it is withdrawn, but interest and late fees apply. An additional sixty-day extension is available with a daily late fee, maintaining the interest and fee obligations.
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