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of <h1>Provisional Tax Assessment Under Section 58: Process, Bond Requirement, and Interest on Unpaid Tax and Refunds</h1> Section 58 of the Model GST Law outlines the process for provisional tax assessment. A taxable person uncertain about the value of goods/services or applicable tax rate can request provisional tax payment, subject to approval by a proper officer. The taxable person must provide a bond ensuring payment of any tax difference upon final assessment. The officer must finalize the assessment within six months, extendable with sufficient cause. Interest is applicable on unpaid provisional tax from the due date until payment. If a refund is due after final assessment, interest is payable on the refund as per the specified provisions.
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