ASSESSMENT UNDER MODEL GST ACT
By: – DR.MARIAPPAN GOVINDARAJAN
Goods and Services Tax – GST
Dated:- 3-10-2016
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 tax period. After such assessment he shall file the returns required under Section 27.
Explanation to Section 44 provides that where goods received as an inward supply is returned by the recipient to the supplier within six months from the date of relevant invoice, the tax payable on such supplies shall be equal to the input tax credit availed earlier on such inward supply. This provision ensures that if the recipient returns the goods to the supplier within
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such surety or security as the proper officer may 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 period as he may deem fit.
* The taxable person shall be liable to pay interest on any amount payable to the Central/State Government consequent to the order for final assessment at the rate specified from the first day after the due date of payment of tax in respect of the said goods and/or services till the date of actual payment, whichever such amount is paid before or after the issue of order for final assessment;
* If th
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passed by the proper officer shall automatically stand withdrawn.
Section 47 provides 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 afford him a reasonable opportunity of being heard.
Summary assessment
Section 48 provides for the summary assessment to protect the interest of revenue when-
* The proper officer has evidence that a taxable person has incurred a liability to pay tax under the Act; and
* The proper officer believes that delay in passing an assessment order will adversely affect the interest of revenue.
Such order cannot
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