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ASSESSMENT UNDER MODEL GST ACT

Goods and Services Tax - GST - By: - Mr. M. GOVINDARAJAN - Dated:- 3-10-2016 Last Replied Date:- 4-10-2016 - Chapter XII of the model GST Act ( Act for short) provides the procedure for assessment under GST regime. This chapter provides the following types of assessments- Self assessment; Provisional assessment; Best judgment assessment; and Summary assessment. Self Assessment Section 44 of the Act provides that every person registered under the Act shall himself assess the tax payable him for a .....

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al supply, his tax liability on such returned goods will be the same as was at the time of the original supply. If the goods are returned after six months of the date of the original supply invoice, the rate of tax applicable will be the rate prevailing on date of such return. Provisional Assessment Section 44A provides the procedure for provisional assessment. If the taxable person is unable to determine the value of goods and/or services or determine the rate of tax applicable thereto provisio .....

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deem fit; The bond is binding the taxable person for payment of the different between the amount of tax as may be finally assessed and the amount of tax provisionally assessed; The proper officermay require such information for finalizing the assessment; On sufficient cause being shown and for reasons to be recorded in writing, the above period of six may be extended- By the Joint/Additional Commissioner for a further period not exceeding six months; and By the Commissioner for such further peri .....

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sment, interest shall be paid on such refund. Best judgment assessment Section 46 and 47 provides the circumstances under which the best judgment assessment can be done by the proper officer. Section 46 provides that if a registered taxable person fails to furnish the return the proper officer has to issue a notice to such defaulting taxable person requiring him to furnish the return within a specified period of time. Such period shall not exceed more than 15 days. If the taxable person fails to .....

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es the procedure of making best judgment assessment if the taxable person fails to register himself with the authority. Section 47 provides that a proper officer can assess the tax liability and pass an order to his best judgment for the relevant tax period. Such an order must be passed within five years from the due date for filing the annual return for the financial year to which nonpayment of tax relates. Such order cannot be passed without giving a show cause notice to the taxable person and .....

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