Provisional Assessment Under GST—Law and Procedure—CA. Satyadev Purohit

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The Tax Publishers GST--Provisional Assessment Provisional Assessment Under GST--Law and Procedure CA. Satyadev Purohit The learned author seeks to discuss the law, practice and procedures relating to provisional assessment under the GST law. 1. Cases in which provisional assessment is sought to be made As per sub-section (1) of section 60, provisional assessment can be resorted by a taxable person when he is unable : (a) to determine the value of goods or services of both; or (b) to determine the rate of tax applicable thereto. In the above cases, the taxable person may request the proper officer in writing giving reasons for payment of tax on provisional basis. In terms of sub-rule (1) of rule 98 of the CGST Rules, every registered person requesting for payment of tax on a provisional basis is required to furnish an application in FORM GST ASMT-01 electronically, giving reasons for payment of tax on a provisional basis, along with the documents in support of his request. As per Answer to Question No. 8 of FAQs on Provisional Assessment Release of Security, it has been stated that a taxpayer can apply for provisional assessment of more than one good/service with one application. 2. Issue of notice by proper officer In terms of sub-rule (1) of rule 98 of the CGST Rules, on receipt of the application for provisional assessment, the proper officer may issue a notice in Form GST ASMT-02, requiring the registered person to appear in person or furnish additional information or documents in support of his request and the applicant is required to file a reply to the notice in Form GST ASMT-03. He may also appear in person before the said officer if he so desires. 3. Passing of order by proper officer In terms of sub-rule (3) of rule 98 of the CGST Rules, the proper officer is required issue an order in Form GST ASMT-04 either rejecting the application, stating the grounds for such rejection or allowing payment of tax on provisional basis indicating the value or the rate or both on the basis of which the provisional assessment is to be made. SUBSCRIBE FOR FULL CONTENT

The Tax Publishers

GST--Provisional Assessment

Provisional Assessment Under GST--Law and Procedure

CA. Satyadev Purohit

The learned author seeks to discuss the law, practice and procedures relating to provisional assessment under the GST law.

1. Cases in which provisional assessment is sought to be made

As per sub-section (1) of section 60, provisional assessment can be resorted by a taxable person when he is unable :

(a) to determine the value of goods or services of both; or

(b) to determine the rate of tax applicable thereto.

In the above cases, the taxable person may request the proper officer in writing giving reasons for payment of tax on provisional basis.

In terms of sub-rule (1) of rule 98 of the CGST Rules, every registered person requesting for payment of tax on a provisional basis is required to furnish an application in FORM GST ASMT-01 electronically, giving reasons for payment of tax on a provisional basis, along with the documents in support of his request.

As per Answer to Question No. 8 of FAQs on Provisional Assessment Release of Security, it has been stated that a taxpayer can apply for provisional assessment of more than one good/service with one application.

2. Issue of notice by proper officer

In terms of sub-rule (1) of rule 98 of the CGST Rules, on receipt of the application for provisional assessment, the proper officer may issue a notice in Form GST ASMT-02, requiring the registered person to appear in person or furnish additional information or documents in support of his request and the applicant is required to file a reply to the notice in Form GST ASMT-03. He may also appear in person before the said officer if he so desires.

3. Passing of order by proper officer

In terms of sub-rule (3) of rule 98 of the CGST Rules, the proper officer is required issue an order in Form GST ASMT-04 either rejecting the application, stating the grounds for such rejection or allowing payment of tax on provisional basis indicating the value or the rate or both on the basis of which the provisional assessment is to be made.