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Section168
The Finance Act, 2016

Processing of statement

In force As on 07 Oct 2026

Ministry Finance Enacted 27 Jun 2016 Cited by 1 provision

Section 168 of the Finance Act, 2016 deals with processing of statement. Processing of statement. 168. (1) Where a statement has been made under section 167 by the [assessee or e-commerce operator], such statement shall be processed in the following manner, namely:— (a) | the equalisation levy shall be computed after making the adjustment for any arithmetical error in th The Act was enacted on 27 Jun 2016.

Processing of statement.

168.

(1) Where a statement has been made under section 167 by the [assessee or e-commerce operator], such statement shall be processed in the following manner, namely:—

(a)the equalisation levy shall be computed after making the adjustment for any arithmetical error in the statement;
(b)the interest, if any shall be computed on the basis of [sum deductible or payable, as the case may be,] as computed in the statement;
(c)the sum payable by, or the amount of refund due to, the [assessee or e-commerce operator] shall be determined after adjustment of the amount computed under clause (b) against any amount paid under sub-section (2) of [section 166 or section 166A] or section 170 and any amount paid otherwise by way of tax or interest;
(d)an intimation shall be prepared or generated and sent to the [assessee or e-commerce operator] specifying the sum determined to be payable by, or the amount of refund due to, him under clause (c); and
(e)the amount of refund due to the [assessee or e-commerce operator] in pursuance of the determination under clause (c) shall be granted to him:

Provided that no intimation under this sub-section shall be sent after the expiry of one year from the end of the financial year in which the [statement or revised statement] is furnished.

(2) For the purposes of processing of statements under sub-section (1), the Board may make a scheme for centralised processing of such statements to expeditiously determine the tax payable by, or the refund due to, the [assessee or e-commerce operator] as required under that sub-section.

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

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

3. Substituted for "section 166" by the Finance Act, 2020 w.e.f. 1-4-2020.

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

Section 168, The Finance Act, 2016.

Cross-references

Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.

This section refers to

  1. s. 166 Collection and recovery of equalisation levy on specified services
  2. s. 166A Collection and recovery of equalisation levy on e-commerce supply or services
  3. s. 167 Furnishing of statement
  4. s. 170 Interest on delayed payment of equalisation levy

Referred to by 1

  1. s. 169 Rectification of mistake

Questions about Section 168

What does Section 168 of the Finance Act deal with?

Section 168 of the Finance Act is headed "Processing of statement". Processing of statement. 168. (1) Where a statement has been made under section 167 by the [assessee or e-commerce operator], such statement shall be processed in the following manner, namely:— (a) | the equalisation levy shall be computed after making the adjustment for any arithmetical error in th

How do I find court cases under Section 168 of the Finance Act?

In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Finance Act 2016 168, section 168 Finance Act 2016, section 168 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.

What should I read with Section 168 of the Finance Act, and has it changed?

Its own text turns on section 166 (Collection and recovery of equalisation levy on specified services), section 166A (Collection and recovery of equalisation levy on e-commerce supply or services), section 167 (Furnishing of statement), section 170 (Interest on delayed payment of equalisation levy), so none of them can safely be read on its own. 1 other provision in this corpus refers back to it.

When was Section 168 of the Finance Act enacted?

Section 168 of the Finance Act, cited as Finance Act 2016 168, was enacted on 27 Jun 2016. It is in force as at the date shown on this page.

Other sections of this Act

Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument. This page is not a substitute for legal advice.