(1) The returns furnished by a dealer under section 16 shall be duly acknowledged in the manner prescribed therefor, and where all the returns relating to a financial year have been filed and are complete in material particulars, the dealer shall, subject to the provisions of sub-rule (2), be deemed to have been assessed for that year:

Provided that where the returns are not complete in material particulars, the dealer shall be given an opportunity to complete the same within thirty days of service of the notice.

(2) For the purpose of sub-section(1) of section 21 a return shall be deemed to be-

(i) correct, if its versions conforms to the balance sheet/profit and loss account/trading account filed by the dealer along-with annual return and this version cannot be impeached by any adverse information, to the contrary, available on record till 20th March of the following financial year; and

(ii) complete, in material particulars, if it contains the entire information required to be furnished therein, is correct arithmetically and is accompanied by the statutory forms as prescribed under the Central Sales Tax Act,1956 or the Himachal Pradesh Value Added Tax Act,2005 as applicable or prescribed lists, documents and proof of payments of the full amount of tax due according to the returns and is duly signed by the dealer:

Provided that no return shall be deemed to be correct and complete if it is either not accompanied by the statutory or prescribed lists, documents, certificates or declarations or any of these are incorrect or do not set out all the prescribed particulars or are not signed or are improperly signed and if, any list, document, certificate or declaration which is unsigned or not signed by an authorised signatory, it shall be treated as no list or document, certificate or declaration and the accompanying return shall also be treated to be incorrect and incomplete.