Define the powers of proper officer for passing Best Judgment Assessment u/s. 62 of CGST Act, 2017. What is the time limit of passing such orders and what are the circumstances of withdrawal of such assessment orders?

The power of proper officer for passing Best Judgment Assessment is given below: Section 62(1) - Notwithstanding anything to the contrary contained in section 73 or section 74, where a registered person fails to furnish return under section 39 (monthly/ quarterly) or section 45 (final return), even after the service of a notice under section 46 (requiring him to furnish the return within a period of 15 days), the proper officer may proceed to assess the tax liability of the said person to the best of his judgement taking into account all the relevant material which is available or which he has gathered. The assessment order shall be issued within a period of five years from the date specified under section 44 for furnishing of the annual return for the financial year to which the tax not paid relates. Section 62(2) - where the registered person furnishes a valid return within 30 days of the service of the assessment order under subsection (1), the said assessment order shall be deemed to have been withdrawn but the liability for payment of interest under subsection (1) of section 50 or for payment of the late fee under section 47 shall continue.