1. Standardised PPT on GST
Indirect Taxes Committee
The Institute of Chartered Accountants of India

2. Disclaimer and Copy right
This presentation has been prepared to provide a standard ‘user presentation’. The views expressed in this presentation are those of Speaker(s). The Institute of Chartered Accountants of India may not necessarily subscribe to the views expressed by the speaker(s). The information cited in this presentation has been drawn from various sources. While every efforts have been made to keep the information cited in this presentation error free, the Institute or any office do not take the responsibility for any typographical or clerical error which may have crept in while compiling the information provided in this presentation. Further, the information provided in this presentation are subject to the provisions contained under different acts and members are advised to refer to those relevant provision also. For clarifications write to us at
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This standardised PPT may be used by any person with due acknowledgement to the Indirect Taxes Committee of ICAI.
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3. Assessments
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4. Assessment : Meaning and Types
Assessment means determination of tax liability
Types of Assessment:
Assessment
Self Assessment
S. 59
Scrutiny of Returns
S. 61
Assessment of unregistered persons
S. 63
Provisional Assessment
S. 60
Assessment of non-filers of returns
S. 62
Summary assessment in certain special cases
S. 64
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5. Self Assessment – Sec 59 Every Registered taxable person;
Himself assesses the tax payable;
Furnish the return for each tax period.
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6. Provisional Assessment – Sec 60
Ambiguity in Value and rate of tax;
Execution of security bond as may be prescribed;
Officer may permit to pay tax provisional basis within 90 days of receipt of request;
Final assessment to take place within six months; further extendable by 6months or 4 years as the case may be;
The balance payable or refund due to be settled.
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7. Scrutiny of Returns – Sec 61
Scrutinize the return to verify the correctness;
Discrepancy noticed to be intimated;
On submission of acceptable explanation within 30 days: No further action required;
Unsatisfactory explanation within 30 days: Appropriate action will be initiated.
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8. Best Judgement Assessment – Sec 62
Also called Assessment for Non-filers of Returns;
Registered taxable person:
fails to file returns and
fails to respond to notice
Assessed by Proper Officer based on the information available to the best of his judgment within 5 years from due date of annual return;
On filing of return within 30 days on receipt of assessment order:
Best Judgment order deemed to be withdrawn; interest and late fees payable as applicable
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9. Assessment of Unregistered Person – Sec 63
Taxable person fails to take registration;
Assess to the best of his judgment;
Serving of show cause notice and opportunity of personal hearing;
The assessment to be made with in 5 years from the due date for filing annual return.
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10. Summary Assessment – Sec 64
Having evidence and delay may adversely effect the revenue;
In the interest of revenue and with due permission;
Application filed or on his own motion Addl. / Joint Commissioner;
If the order is erroneous; Addl./Joint Commissioner may withdraw such order.
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11. Thank You For any Clarification, Please Contact
Indirect Taxes Committee of ICAI
Website:
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