Tax Management India. Com
                        Law and Practice: A Digital eBook ...

☞ Data-bank

TMI - Tax Management India. Com
Case Laws Acts Notifications Circulars Classification Forms Articles News D. Forum
Highlights
What's New  Latest Cases 

Share:      

        Home        
 
Article Section
Home Articles Goods and Services Tax - GST Dr. Sanjiv Agarwal Experts This
← Previous Next →

SELF-ASSESSMENT UNDER GST

Submit New Article

Discuss this article

SELF-ASSESSMENT UNDER GST
By: Dr. Sanjiv Agarwal
November 1, 2021
All Articles by: Dr. Sanjiv Agarwal       View Profile
  • Contents

Every registered person shall self-assess the taxes payable under this Act and furnish a return for each tax period as specified under section 39. [Section 59]

Self Assessment

As per section 59 of the CGST Act, 2017, self-assessment is required to be done by every registered taxable person himself, in relation to taxable supply made, on the basis of accounts and records available with him and furnish return under section 39 for each period and pay declared tax thereon.

Accordingly, following are the important points to be noted for the purpose of self assessment:

  1. Self-assessment shall be done by every registered person.
  2. It involves self assessment of taxes payable.
  3. To self assess implies assessment by the tax payer himself.
  4. Tax return has to be filed for each tax period in terms of section 39 of CGST Act, 2017.

It may be noted that provisions relating to furnishing of returns are provided in section 39 of CGST Act, 2017 read with sections 37 to 48 of CGST Act, 2017 in Chapter IX of the Act, relating to various returns to be filed by the taxpayer. Further, rules 59 to 84 of CGST Rules, 2017 provides for forms and manner of filing different returns under the Act.

List of returns to be filed under section 39 of CGST Act, 2017

The returns to be filed by registered person, inter alia, include the following :

S.No.

Return Form

To be used for

  1.  

GSTR 1

Statement of Outward Supplies

  1.  

GSTR 3B

Return for normal taxpayer / QRMP

  1.  

GSTR 4

Return for composition taxpayer

  1.  

GSTR 5

Return for non-resident taxpayer

  1.  

GSTR 6

ISD

  1.  

GSTR 7

TDS

  1.  

GSTR 8

TCS

  1.  

GSTR 9

Annual Return

  1.  

GSTR 9 A

Annual return for composition taxpayer

  1.  

GSTR 9C

Reconciliation statement

  1.  

GSTR 10

Final return

  1.  

GSTR 11

Statement of inward supplied by UIN holders 

  1.  

CMP 08

Statement of payment of self-assessed tax

  1.  

ITC -01

Declaration of ITC on opening stocks

  1.  

ITC -02

Transfer of ITC

  1.  

ITC -03

Reversal of ITC on closing stocks

  1.  

ITC -04

Job-work transactions

Conditions Precedent

  1. Only registered person is required to self assess under section 59 of CGST Act, 2017.
  2. Self assessment does not apply to unregistered person.
  3. Obligations to determine tax payable and filed applicable return are co-terminus.
  4. There is no departmental assessment in case of self – assessment.
  5. Since it is a case of self assessment, burden of proof of such assessment lies on the taxpayer only unlike in case of suppression.

Verification of Self Assessment

Though, self assessment does not involve any assessment on the part of revenue authorities, a wrong self assessment may have the consequences of attracting the following provisions from Department’s  point of view.

Section

Relating to

60

Provisional assessment

61

Scrutiny of returns

62

Assessment of non-filers of returns

63

Assessment of unregistered persons

64

Summary assessment in certain special cases

65

Audit by tax authorities

66

Special audit

67

Power of inspection, search and seizure

68

Inspection of goods in movement

69

Power to arrest

70

Power to summon persons to give evidence and produce documents

71

Access to business premises

72

Officers to assist proper officers

Stages in self assessment

The self assessment under GST involves the following steps on the part of taxpayer:

Registration of tax payer

Determination of tax payable

Payment of tax

Filing of returns

Relevant  judicial pronouncements

Further, the court observed that a writ court cannot make a fact finding exercise to ascertain, which would be an appropriate entry under which the goods are to be classified. Infact, under the normal course, in respect of classification disputes, the High Court cannot entertain an appeal against an order passed by the Cestat as the appeal lies to the Hon'ble Supreme Court in respect of classification issues or matters concerning rate of tax. Court did not venture into as what would be the appropriate classification of the goods as this exercise being a factual exercise has to be necessarily agitated before the appellate authority.

The assessee through their letters dated 15.03.2019, requested the Assessing Officer to give them time upto 15th April, 2019 for submission of reply by stating that they need to collect more data to justify their time and that they are also preparing GSTR-2A reconciliation against their input credit taken in monthly return.

Since the assessee had sought for time to file its objections, but the order of assessment was passed simply by confirming proposals in absence of any objection from assessee, the court remitted back the matter to Assessing Officer to redo assessment after receiving reply from the assessee.

 

By: Dr. Sanjiv Agarwal - November 1, 2021

 

Discussions to this article

 

sir,

namasthe, kindly analyze the Bharati Airtel - 2021 (11) TMI 109 - SUPREME COURT where Supreme court has rejected the claiming of refund of ₹ 900 Cr(approx) and how it becomes important in filing of returns

By: Bharat Cholleti
Dated: 01/11/2021

The cited SC case clarifies that GSTR-2A is only a facilitation made available to a taxpayer. However tax payer has to take ITC as per his books only.

By: Ganeshan Kalyani
Dated: 19/11/2021

Bharat Cholleti

Will try to attempt.

Sanjiv Agarwal

By: Dr. Sanjiv Agarwal
Dated: 19/11/2021

Ganeshan Kalyani

You are right Sir,

Sanjiv Agarwal

By: Dr. Sanjiv Agarwal
Dated: 19/11/2021

 

Discuss this article

 
← Previous Next →

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || Database || Members || Refer Us ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.
|| Site Map - Recent || Site Map || ||