Provisional assessment under GST allows tax payment on an interim basis when value or rate cannot be determined, with bond and interest conditions. Where the taxable person cannot determine the value of goods or services or the applicable rate of tax, provisional assessment may be requested in writing and allowed by the proper officer on specified provisional value or rate, subject to a bond with surety or security securing payment of any difference on final assessment. Final assessment must ordinarily be completed within six months from communication of the provisional order, subject to limited extensions for sufficient cause. Interest applies on unpaid tax under provisional assessment, and interest is payable on any refund arising from final assessment.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Provisional assessment under GST allows tax payment on an interim basis when value or rate cannot be determined, with bond and interest conditions.
Where the taxable person cannot determine the value of goods or services or the applicable rate of tax, provisional assessment may be requested in writing and allowed by the proper officer on specified provisional value or rate, subject to a bond with surety or security securing payment of any difference on final assessment. Final assessment must ordinarily be completed within six months from communication of the provisional order, subject to limited extensions for sufficient cause. Interest applies on unpaid tax under provisional assessment, and interest is payable on any refund arising from final assessment.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
