(1) The returns furnished by a registered dealer, other than those covered by clause (a) or clause (b) or clause (c), of subsection (1) of section 116, shall, notwithstanding the provisions of sub-section (1) of section 46 and subject to the provisions of subsection (2) and sub-section (4), be accepted as correct and complete for the year(s) [hereinafter referred to as the eligible period(s)] as mentioned in column (2), and having total turnover of sales as mentioned in column (3), of the Table below and the assessment in respect of such eligible period(s) shall be deemed to have been made under sub-section (1) of section 47 on the date as mentioned in column (4) of the Table :-

(2) The provisions of this section shall not apply in respect of a year, where the registered dealer-

(a) is required to be assessed under clause (aa), or clause (b), or clause (c), or clause (d), or clause (h), of sub-section (1) of section 46, for any return period for such year falling within the eligible period(s); or

(b) is engaged in execution of works contract within West Bengal during any period within the eligible period(s); or

(c) has claimed refund of unadjusted excess input tax credit or excess payment of net tax or interest or late fee during any period within the eligible period(s); or

(d) has been selected for audit under section 43 for any period within such eligible period(s); or

(e) has been found to have evaded any tax under the Act for any year or part of a year within the preceding three years before the eligible period(s); or

(f) has not furnished return under the Act or under the Central Sales Tax Act, 1956 (74 of 1956), on or before the 31st day of October, 2011, in accordance with the provisions of the respective Acts, for any return period for the year falling within the eligible period(s); or

(g) has claimed exemption from tax on sales or for lower rate of tax on sales under the Act in respect of any return period for such year falling within the eligible periods but is not in possession of the relevant declarations or certificates or documents required in support of such claim and has not paid the relevant taxes in terms of sub-section (3); or

(h) has claimed exemption from tax on sales or for lower rate of tax on sales under the Central Sales Tax Act, 1956, in respect of any return period for such year falling within the eligible period but has not produced, or is not in possession of, the relevant declarations, certificates or documents in support of such claim or has not paid the relevant taxes in terms of sub-section (3); or

(i) has claimed exemption from tax under section 6A of the Central Sales Tax Act, 1956, in respect of any return period for such year falling within the eligible periods but has not produced, or in possession of, the relevant declarations or documents in support of such claim or has not paid the relevant taxes in terms of sub-section (3).

(3) Where a registered dealer is eligible and is willing to be assessed in accordance with the provisions of sub-section (1) for the eligible period(s), such registered dealer shall verify the related returns for the periods with his books of accounts and documents, including declarations or certificates required to be possessed or furnished or produced in support of the claims for deduction from turnover of sales or for exemption from payment of tax or for payment of tax at a lower rate, as claimed in such returns, and shall furnish a declaration on or before the 31st day of December. 2011, in the form along with such documents, and in such manner, as may be prescribed.

(4) The registered dealer, if upon verification, finds that there is any short payment or non-payment of net tax or interest or late fee or the amount of unadjusted excess input tax credit carried forward in the return for the next period is in excess of the amount admissible to be lawfully canned forward, he shall make payment of such balance amount of net tax along with interest or late fee previously remained unpaid and shall also furnish along with such declaration receipted challan showing such payment.

(5) No refund of tax, input tax credit or input tax rebate, interest or late fee shall be made in respect of any return period falling within the eligible period(s), unless an assessment is made under sub-section (1) of section 46.

(6) The provisions of sub-section (3), sub-section (3A), and sub-section (4), of section 47 shall, mutatis mutandis, apply in respect of an assessment deemed to have been made under this section.