Best Judgment Assessment of non-filers of returns :
If a registered taxable person fails to furnish the return under section 39 or 45, even after the service of a notice under section 46, the proper officer may proceed to assess the tax liability of the said person to the best of his judgment taking into account all the relevant material which is available or which he has gathered and issue an assessment order within a period of five years from date specified under section 44 for furnishing of the annual return for the financial year to which the tax not paid relates – section 62(1) of CGST Act.
Where the taxable person furnishes a valid return within thirty days of the service of the assessment order under section 62(1), the said assessment order shall be deemed to have been withdrawn but the liability for payment of interest under section 50(1) or payment of late fee under section 47 will continue – section 62(2) of CGST Act.
Even if such best judgment assessment is made, payment of interest and late fee is still payable.
These provisions are independent of section 73 or 74.