Provisional Assessment under GST [Video Tutorials ]

By | November 15, 2018
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(Last Updated On: November 15, 2018)

Provisional Assessment under GST

Video Tutorial by CA Satbir Singh  .

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  1. What Assessment under CGST Act? “assessment” means determination of tax liability under this Act and includes self-assessment, re-assessment, provisional assessment, summary assessment and best judgment assessment; [Section 2(11) of the CGST Act, 2017 ]

  2. What is Provisional Assessment under CGST Act? Provisional assessment. Subject to the provisions of sub-section (2), where the taxable person is unable to determine the value of goods or services or both or determine the rate of tax applicable thereto, he may request the proper officer in writing giving reasons for payment of tax on a provisional basis and the proper officer shall pass an order, within a period not later than ninety days from the date of receipt of such request, allowing payment of tax on provisional basis at such rate or on such value as may be specified by him. [Section 60 (1) of the CGST Act, 2017]

  3. What should taxable person do for getting provisional Assessment under CGST Act? Provisional assessment. fom Foprm ASINF053 s may pma The payment of tax on provisional basis may be allowed, if the taxable person executes a bond in such form (Form ASMT-05) as may be prescribed1-with such surety or security as the proper officer may deem fit, binding the taxable person for payment of the difference between the amount of tax as may be finally assessed and the amount of tax provisionally assessed. [Section 60 (2) of the CGST Act, 2017] Note 1: Refer rule 98 of the CGST Rules, 2017.

  4. How should a person apply for provisional Assessment under CGST Act? Provisional assessment. Every registered person requesting for payment of tax on a provisional basis in accordance with the provisions of sub-section (1) of section 60 shall furnish an application along with the documents in support of his request, electronically in FORM GST ASMT-01 on the common portal, either directly or through a Facilitation Centre notified by the Commissioner. (Rule 98 (1)of the CGST Rules, 2017)

  5. How should a person apply for provisional Assessment under CGST Act on GST Portal? Dashboard Services User Services My Applications My Applications indicates mandatory fields Application Type From Date To Date Select DD/MMAYYYY Select Advance Ruling Intimation of Voluntary Payment DRC-03 Letter Of Undertaking Appeal to Appellate Authority Application for rectification of order Application for Restoration of Provisional Attachment REFUNDS Application for Deferred Payment/Payment in Instalments SEARCH NEW APPLICATION onal Assessment A

  6. How should a person View provisional Assessment under CGST Act on GST Portal? Dashboard Services User Services My Applications My Applications indicates mandatory fields Application Type From Date To Date Provisional Assessment ASMT-01 16/10/2018 16/10/2018 SEARCH NEW APPLICATION ARN/RFN Form No. Form Description Date of Filing Status AD071018000048K Application for Provisional Assessment 16/10/2018 Pending for action by tax officer 10 25 50 100

  7. How should a person View provisional Assessment under CGST Act on GST Portal DashboardServices> User Services My Applications Case Details ARN AD071018000048K GSTIN/UIN/Temporary ID 07APIPS0052D410 Date Of Application/Case Creation 16/10/2018 Type of Documents View Documents APPLICATIONS NOTICES REPLIES ORDERS SECURITY Application for Provisional Assessment View BACK

  8. How should GST Officer issue Notice for provisional Assessment under CGST Act? Provisional assessment. The proper officer may, on receipt of the application under sub-rule (1), issue a notice in FORM GST ASMT-02 requiring the registered person to furnish additional information or documents in support of his request and the applicant shall file a reply to the notice in FORM GST ASMT-03, and may appear in person before the saia officer if he so desires. (Rule 98 (2)of the CGST Rules, 2017)

  9. How Notice can be viewed for provisional Assessment application on GST Portal? Dashboard Additional Notices and Orders Case Details ARN AD071018000052V GSTIN/UIN/Temporary ID 07APIPS0052D410 Date Of Application/Case Creation 18/10/2018 Status Pending for reply by taxpayer Type Issue Due Date Personal Hearing Section Date APPLICATIONS Attac to Reply Number NOTICES ADDITIONAL INFORMATION ZA071018000320D 18/10/2018 31/10/2018 GST ASMT-02 Application for Furni REPLIES ORDERS SECURITY No 98 PA AddtnlInfo_ZA07101800

  10. How to reply Notice can be viewed for provisional Assessment application on GST Portal? Dashboard Services User Services My Applications Case Details ARN AD0710180000301 GSTIN/UIN/Temporary ID 07APIPS0052D410 Date Of Application/Case Creation 12/10/2018 Status Pending for reply by taxpayer APPLICATIONS ADD REPLY ADDITIONAL INFORMATION GST ASMT-06 NOTICES filed Against Reply Date/Ph Option for Personal Hearingy Attachments REPLIES No Records Found ADDITIONAL INFORMATION FOR RELEASE OF SECURITY ORDERS SECURITY ADDITIONAL INFORMATION GST ASMT-02

  11. How should GST Officer issue Order for provisional Assessment under CGST Act? Provisional assessment. The proper officer shall issue an order in FORM GST ASMT-04 allowing the payment of tax on a provisional basis indicating the value or the rate or both on the basis of which the assessment is to be allowed on a provisional basis and the amount for which the bond is to be executed and security to be furnished not exceeding twenty five per cent of the amount covered under the bond. (Rule 98 (3)of the CGST Rules, 2017)

  12. How should bond be issued for provisional Assessment under CGST Act? Provisional assessment. The registered person shall execute a bond in accordance with the provisions of sub-section (2) of section 60 in FORM GST ASMT-05 along with a security in the form of a bank guarantee for an amount as determined under sub-rule (3): Explanation.-For the purposes of this rule, the expression “amount” shall include the amount of integrated tax, central tax, State tax or Union territory tax and cess payable in respect of the transaction. (Rule 98 (4)of the CGST Rules, 2017)

  13. How to furnish Security on GST Portal ? Dashboard Services User Services My Applications Case Details ARN AD071018000048K GSTIN/UIN/Temporary ID 07APIPS0052D410 Date Of Application/Case Creation 16/10/2018 Status Provisional order issued, security pending FILE APPLICATIONS NOTICES REPLIES FURNISH OF SECURITY Reference Name Of Amount Previous Bank Reference Number Number Bank () Date Attachments RESUBMIT OF SECURITY No Records Found ORDERS SUBMISSION OF MODIFIED SECURITY SECURITY RELEASE OF SECURITY

  14. When should notice be issued for Final Assessment after provisional Assessment under CGST Act? Provisional assessment. The proper officer shall issue a notice in FORM GST ASMT-06, calling for information and records required for finalization of assessment under sub-section (3) of section 60 and shall issue a final assessment order, specifying the amount payable by the registered person or the amount refundable, if any, in FORM GST ASMT-07. (Rule 98 (5)of the CGST Rules, 2017)

  15. When should security be released after Final Assessment under CGST Act? Provisional assessment. The applicant may file an application in FORM GST ASMT- 08 for the release of the security furnished under sub-rule (4) after issue of the order under sub-rule (5) (Rule 98 (6)of the CGST Rules, 2017)

  16. When should security be released after Final Assessment under CGST Act? Provisional assessment. The proper officer shall release the security furnished under sub-rule (4), after ensuring that the applicant has paid the amount specified in sub-rule (5) and issue an order in FORM GST ASMT-09 within a period of seven working days from the date of the receipt of the application under sub-rule (6) (Rule 98 (7)of the CGST Rules, 2017)

  17. How to apply for release of security on GST Portal ? Dashboard Services User Services My Applications Case Details ARN GSTIN/UIN/Temporary ID 07APIPS0052D410 Date Of Application/Case Creation 16/10/2018 Status Final order issued AD071018000048 FILE APPLICATIONS NOTICES REPLIES ORDERS FURNISH OF SECURITY Bank Guarantee Reference Number Name of Bank Amount Date Previous Bank Attachments Reference Number RESUBMIT OF SECURITY Doc.pdf 23333 07APIPS0052D410 10000 12/10/2018 2344444 SUBMISSION OF MODIFIED SECURITY Application for Resubmission of Security.pdf SECURITY 07APIPS0052D410 10000 12/10/2018 2344444 Doc.pdf RELEASE OF SECURITY Application for Modify of Security.pdf 2344444 07APIPS0052D410 10000 16/10/2018 NA Doc.pdf Furnishing of Security 2344444 07APIPSOOS2D410 10000 17/10/2018 NA Furnish of Security.pd

  18. What will happen after release of security? Once the security is released by Tax Official, Release order will be generated and intimation of issue of order will be sent via email and SMS to taxpayer. Order will also be available at the dashboard of taxpayer for view, print and download.

  19. What a taxpayer needs to do in case final assessment order determines higher rate/ value than provisionally assessed values? Provisional assessment. If final assessment order determines higher rate/ value than provisionally assessed values, then the taxpayer needs to deposit the additional tax liability along with applicable interest through return functionality before filing September month return of the subsequent year or filing of Annual return for the year, whichever is earlier.

  20. Whether person is entitled to interest on refund if the person was provisionally assessed ? Provisional assessment. Where the registered person is entitled to a refund consequent to the order of final assessment under sub-section (3), subject to the provisions of sub-section (8)of section 54, interest shall be paid orn such refund as provided in section 56. [Section 60 (5) of the CGST Act, 2017]

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