What do you mean by GST Assessment?

What do you mean by GST Assessment?

Under GST, the term “assessment” means determination of tax liability under the GST Act. Normally, persons having GST registration file GST returns and pay GST every month based on self-assessment of GST liability. This means GST continues to promote self-assessment just like the Excise, VAT and Service Tax under current tax regime. 


However, the Government at all times has the rights to re-assess or perform an assessment by itself and determine if there is a short payment of GST.


For more information on this visit https://www.taxaj.com/

    • Related Articles

    • What are the different types of Assessment under GST?

      The different types of assessment under GST are as under:        Section 59 – Self assessment                                                                                                                                                              ...

    • Liability To Pay Unpaid GST Dues

      Offences Under GST What is an offence? An offence is a breach of a law or rule, i.e., an illegal act. Similarly, an offence under GST is a breach of the provisions of the GST Act and Rules. Offences under GST and respective applicable penalties are ...

    • Cancellation of GST registration by the tax officer

      Cancellation of GST registration means that the taxpayer will no longer be a registered person under GST and will not have to pay/collect any GST, claim an input tax credit or file returns. GST registration cancelled is covered under Section 29 of ...

    • Who is the person responsible to make assessment of taxes payable under the GST Act?

      Every person registered under the GST Act shall himself assess the tax payable by him for a tax period and after such assessment he shall file the return required under section 39. For more information on this visit https://www.taxaj.com/

    • Should You Opt for Voluntary Registration Under GST?

      Every business is eligible for voluntary registration under Goods and Services Tax irrespective of the threshold limit. You may opt for voluntary registration under GST even if you are not liable to be registered. All the provisions of GST applicable ...