Types of Assessment under GST

Assessment is the process of finalization of tax liability and includes:

• Self assessment

• Reassessment

• Provisional assessment

• Summary assessment

• Best judgment assessment

Provisions relating to Assessment are contained in sections 59 to 64 of the GST law. The GST law contemplates various types of Assessments which are discussed hereunder. Further these sections also provide for scrutiny of returns filed by the taxpayers.

On the basis of the manner and the circumstance in which it is undertaken, assessments may be classified under following categories:

A.      Self-Assessment

In view of section 59 of the CGST Act, 2017 as applies to IGST Act, 2017, UTGST Act, 2017 and may be SGST law, every registered taxable person shall self assess the taxes payable under this Act and furnish a return for each tax period as specified under section 39 of the Act.

The submission of a self assessed return by a taxpayer works as an important link between the taxpayer and the tax administration and works as an important tool for:—

a.         Compliance verification programs

b.         Providing important data for policy making

c.         Management of audit and anti evasion programs

d          Finalisation of tax liability of the taxpayer within stipulated time frame.

B. Provisional Assessment

In view of section 60 of CGST Act, 2017 as applicable to IGST Act, UTGST Act, 2017 & may be to SGST Law, where the taxpayer is unable to determine the tax liability correctly and such inability is covered by the circumstances enumerated under the provisions of this section he may opt for making provisional payment of tax.

The taxpayer needs to follow the process of making a request! application to the proper officer. Such request can be made only under the following two circumstances:—

•          if he is not able to determine the value of the supplies, or

•          if he is not certain about the tax rate applicable to such supplies

In such case the taxpayer may request the proper officer, indicating :—

•          Specific grounds/reasons, and the documents or information for want of which the tax payable cannot be ascertained;

•          Period for which provisional assessment is required;

•          The rate of duty or the value or both, as the case may be, proposed to be applied by the taxpayer for provisional payment of tax;

•          An undertaking to appear before the proper officer on the date fixed by him, and to furnish all relevant information and documents within the time specified by the proper officer so as to enable the proper officer to finalize the provisional assessment

Where the proper officer is satisfied with the genuineness of the taxpayer’s request he will issue an order within a period of ninety days from the date of receipt of such request, allowing the provisional assessment clearly stating:—

•          The grounds on which Provisional Assessment has been ordered

•          The rate and/or value at which the tax has to be provisionally paid

•          The amount of differential tax for which bond is to be executed

•          The amount of security or surety as may be fixed by the proper officer.

The final assessment order has to be passed within six months from the date of communication of the provisional assessment order.

This period of six months may be extended by the Additional/Joint Commissioner if sufficient causes are shown that the order cannot be finalized in six month; such extension will be for a period not exceeding six months. The Commissioner may extend this period (after the first extension) to such other period not exceeding four years, that he may deem fit.

The registered person shall be liable to pay interest on any tax payable on the supply of goods or services or both under the provisional assessment but not paid by the due date specified under sub-section (7) of section 39 or the rules made thereunder, at the rate specified under sub-section (1) of section 50 the interest shall be payable from the first day after the due date of payment of tax in respect of the said supply of goods or services or both till the date of actual payment, whether such amount is paid before or after the issuance of the final assessment order.

Where the registered person is entitled to a refund consequent to the order of final assessment under sub-section (3) of section 60, subject to the provisions of sub-section (8) of section 54, interest shall be paid on such refund as provided in section 56.

The following table summaries the process flow & the Forms Specified for Provisional Assessment under the Assessment and Audit rules:

SL
No.

By whom

Event & time limit

Form No.

Relevant
section of
CGST Act,
2017

Relevant
provision of
assessment
and audit

1.

Registered person

Application to re- quest payment of tax on a provisional basis

GST ASMT- 01

60(1)

1(1)

2.

Proper officer

Notice to appear personally or to furnish additional information in response to GST ASMT-01

GST ASMT- 02

60(1)

1(2)
_________

3

Registered person

Reply to notice of
Form GST ASMT-02

GST ASMT
-03

60(1)

1(2)

4.

Proper officer

Within 90 days of application in GST ASMT-0 1 to pass an order for

GST ASMT
-04

60(2)

1(3)

 

 

Rejection of application GST ASMT -01 or

- Acceptance of application indicating-

- Value or Rate or Both

- Bond value and the Security to be furnished not exceeding 25% of Bond

 

 

 

5.

Registered person

Bond execution in response of order in GST ASMT-04 along with security in Form of bank guarantees

Amount shall include IGST, CGST, SGST, UTGST and cess

GST ASMT
-05

60(2)

1(4)

6.

Proper officer

Notice calling for information for final assessment against order in GST ASMT
-04

GST ASMT
-06

60(3)

1(5)

7.

Proper officer

Final order with- in 6 months from the date of communication of GST ASMT-04 or further extendable up to 4 years specifying the amount payable / refundable

GST ASMT
-07

60(3)

1(5)

8.

Registered person

Release of security

GST ASMT
-08

60(3)

1(6)

9.

Proper officer

Release of security amount with- in 7 working days from receipt of GST
ASMT-08

GST ASMT
-09

60(3)

1(7)

 
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