Professional Documents
Culture Documents
Assessment and Audit
Assessment and Audit
1
GST- Assessment and Audit
2
GST- Assessment and Audit
Where the tax liability as per the final assessment is higher than the provisional
assessment,- The registered person has to pay tax along with interest from the date
the tax was due to be paid originally till the date of actual payment.
Where the tax liability as per the final assessment is less than in provisional
assessment- The registered person get refund with interest if delay greater than 60
days .
The proper officer shall release the security within 7 days from the date of application
submitted.
In case any discrepancy is found, Issue notice to the registered person and he shall reply
within 30 days from the date of service of notice.
3
GST- Assessment and Audit
Where the registered person furnishes a valid return for the default period within
30 days of the service of the assessment order passed on best judgment basis,
the said assessment order shall be deemed to have been withdrawn but the
liability for payment of interest under sub-section(1) of section 50 or for
payment of late fee under section 47 shall continue.
4
GST- Assessment and Audit
Summary assessments can be initiated to protect the interest of revenue with the
previous permission of Additional Commissioner/Joint Commissioner when:
the proper officer has evidence that a taxable person has incurred a liability
to pay tax under the Act, and
the proper officer has sufficient grounds to believe that delay in passing an
assessment order may adversely affect the interest of revenue.
The summary assessment order and a summary thereof shall be uploaded
electronically in the prescribed form.
Where the taxable person to whom the liability pertains is not ascertainable and such
liability pertains to supply of goods, the person in charge of such goods shall be
deemed to be the taxable person liable to be assessed and liable to pay tax and any
other amount due under this section.
5
GST- Assessment and Audit
The period of audit could be for a financial year or part thereof or multiples
thereof.
The audit is required to be completed within 3 months from the date of commencement
of audit. The period is extendable for a further period of a maximum of 6 months by the
Commissioner.
On conclusion of audit, the proper officer shall within 30 days inform the registered
person whose records are audited, about the audit findings and the reasons for such
findings.
Where the audit results in detection of tax not paid or short paid or erroneously
refunded, or input tax credit wrongly availed or utilised, the proper officer may
initiate action under section 73 or section 74.
6
GST- Assessment and Audit
The expenses of the examination and audit of records including the remuneration of
such Chartered Accountant or Cost Accountant, shall be determined and paid by the
Commissioner and such determination shall be final
7
GST- Assessment and Audit