Tag Archives: Self-assessment (Sec 59)

Delineating assessments under GST2

Delineating assessments under GST

Goods and services Tax (GST) is a broad based, comprehensive tax to be levied on goods and services aiming at a simple and transparent tax structure to positively incentivize trade and industry. Under GST, the term “assessment” means determination of tax liability under this Act i.e. to figure out how much tax is to be paid actually, a GST assessment is organized. Various forms of assessments under GST include:

  1. Self-assessment
  2. Provisional assessment
  3. Scrutiny assessment
  4. Best judgement assessment
  5. Assessment of unregistered persons
  6. Summary assessment

Self-assessment (Sec 59)
A taxable person undergoes his self-assessment where all GST filings are based on his … Read more