Section 203
Amendment of Top-up Tax return
Where for a Reporting Financial Year a Constituent
Entity has furnished a return in accordance with section 202, that Constituent Entity may make amendment to such return in an amended return as prescribed by the
Director General in respect of the amount of tax or additional tax payable by that Constituent Entity or on the amount of tax which has been or would have been wrongly repaid to him.
(2)
An amended return under subsection (1) shall only be made after the due date for the furnishing of the return in accordance with section 202, but not later than six months from that date.
(3)
For the purposes of this section, the amended return shall—
(a)
specify the amount of tax or additional tax payable;
(b)
specify the amount of tax payable on the tax which has or would have been wrongly repaid to him;
(c)
specify the increased sum ascertained in accordance with subsection (4); or
(d)
contain such particulars as may be required by the Director General.
(4)
The tax or additional tax payable under subsection (1)
shall be increased by a sum equal to ten per cent of the amount of such tax or additional tax.
Finance (No. 2)
(5)
The amendment under subsection (1) shall only be made once.
(6)
Where—
(a)
a return for a Reporting Financial Year has been furnished in accordance with section 202; and
(b)
the Director General has made an assessment for that Reporting Financial Year under section 212, no amendment shall be allowed under this section.