CA. Bhavik P. Chudasama
Quick Summary
Table of Contents Assessment Self-Assessment (Sec 59) Provisional Assessment (Sec 60) Scrutiny of Returns (Sec 61) Best Judgment Assessment (Sec 62 63) Summary Assessment (Sec 64) Procedure for Assessments under GST What isAssessment? Assessment is an important pro
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FAQ :
Assessment under the GST Act is the process by which GST authorities verify and determine a taxpayer's tax liability to ensure compliance with the Act and correct tax payment.
Self-assessment under GST (Section 59) requires taxpayers to calculate their tax liability, file returns, and pay taxes themselves, with authorities verifying these returns later.
A provisional assessment (Section 60) is conducted when a taxpayer cannot determine their exact tax liability due to reasons like incomplete information, requiring them to pay a provisional tax until final assessment.
During scrutiny of returns (Section 61), GST authorities investigate if a taxpayer has paid the correct tax or complied with the Act, potentially requesting additional information or documents.
Best judgment assessment (Sections 62 & 63) is carried out by GST authorities when a taxpayer fails to file returns or provide required information, with the authority determining the tax liability based on their judgment.
A summary assessment (Section 64) is conducted by GST authorities when there is evidence of tax evasion or fraud, allowing for a swift assessment and order.
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