(1) Every registered dealer liable to pay tax under the Act whose aggregate import value of specified goods imported in any assessment year exceeds Rs.10 Lakhs, shall before the expiry of the next succeeding month, submit to the Assessing Authority his monthly statement of such import value in Form No. ET-4.

(2) Every registered dealer liable to pay tax, other than a registered dealer referred to in sub-rule (1) shall submit to the Assessing Authority, a quarterly statement in Form No. ET-4, for the quarter ending 30th June, 30th September, 31st December and 31st March, within a month from the last day of the quarter concerned.

(3) Every importer other than a registered dealer referred to in subrules (1) and (2) shall submit a statement in Form No. ET-4 within ten days from the date of entry of the goods into the local area.

(4) The statements to be submitted under sub-rules (1), (2) and (3) above shall be accompanied by a challan or a crossed cheque or a crossed Demand draft for the full amount of tax payable on the import value of the goods disclosed in the statement.

Explanation - A receipt from designated bank may be a challan duly signed by designated bank as proof of payment or e-challan generated through computer networks as proof of payment. However, e-challan shall have to be countersigned by the dealer concerned when it is submitted alongwith a tax return.

(5) Every registered dealer referred to in the sub-rules (1) and (2) shall, in addition to monthly/quarterly statements, furnish an annual return in Form No. ET-5 accompanied by a challan or crossed cheque or a crossed Demand draft in token of payment of any balance tax due, to the Assessing Authority within 31st May of the following financial year.