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FINALIZATION OF PROVISIONAL ASSESSMENT

Para 2 (C) - Draft-Bills-Reports - Business Processes for GST on Refund Process - Report on - Business Processes for GST on Refund Process - [August 2015] - Para 2 (C) - 2 (C) : As discussed in Para No. (I) below, the issues relating to provisional a .....

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continuance of the system of provisional assessment: i) In the proposed GST regime the returns of the taxpayer will be electronically filed. In the return itself there should be a field for indicating whether the tax being paid is provisional or fina .....

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the reason mentioned by the taxpayer, the return / assessment may be kept provisional. iii) Thereafter the return may be taken up for finalization once the issue involved in provisional assessment is settled. GST law may prescribe time period for fi .....

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payer is required to pay or is eligible for refund. v) The refund would be granted only if the incidence of GST paid by him has not been passed on to the consumer (the concept of unjust enrichment). This issue would be examined by the assessing offic .....

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