Furnishing of statement.

167. (1) Every ¹[assessee or e-commerce operator] shall, within the prescribed time after the end of each financial year, prepare and deliver or cause to be delivered to the Assessing Officer or to any other authority or agency authorised by the Board in this behalf, a statement in such form, verified in such manner and setting forth such particulars as may be prescribed, in respect of all ²[specified services or e-commerce supply or services, as the case may be,] during such financial year.

(2) An ¹[assessee or e-commerce operator] who has not furnished the statement within the time prescribed under sub-section (1) or having furnished a statement under sub-section (1), notices any omission or wrong particular therein, may furnish a statement or a revised statement, as the case may be, at any time before the expiry of two years from the end of the financial year in which the ³[specified services was provided or e-commerce supply or services was made or provided or facilitated].

(3) Where any ¹[assessee or e-commerce operator] fails to furnish the statement under sub-section (1) within the prescribed time, the Assessing Officer may serve a notice upon such ¹[assessee or e-commerce operator] requiring him to furnish the statement in the prescribed form, verified in the prescribed manner and setting forth such particulars, within such time, as may be prescribed.

Note:

1. Substituted for "assessee" by the Finance Act, 2020, w.e.f. 1-4-2020.

2. Substituted for "specified services" by the Finance Act, 2020, w.e.f. 1-4-2020.

3. Substituted for "specified service was provided" by the Finance Act, 2020, w.e.f. 1-4-2020.