4. Assessment

(1) After the close of the year for which returns have been submitted under Rule 3 or in the course of the year, where an importer has discontinued business, the assessing authority shall if he is satisfied after such scrutiny of the accounts and making such enquiry as he considers necessary that the returns filed are correct and complete, finally assess in a single order on the basis of the return(s), the tax payable for the year to which the return(s) relate.

(2) Where any importer fails to submit return or returns before the date prescribed in that behalf or if any return or returns submitted by him appears to the assessing authority to be incorrect or incomplete, the assessing authority shall after giving the dealer an opportunity as mentioned in sub-section (3) of Section 8 determine the purchase value of motor vehicles to the best of his judgement and finally assess in a single order the tax or taxes payable.

(3) If on final assessment under sub-rule (1) or sub-rule (2), any tax is found to be due from the importer after deducting the tax or taxes paid by him towards the provisional assessment made under Rule 3, the assessing authority shall serve on the importer a notice in Form D2, and the dealer shall pay the sum demanded in the notice therein. If, however, any refund of tax, is found to be due to the dealer, the assessing authority shall serve on him a notice in Form R.