Meaning of term Self Assessed Tax under GST

What is Self Assessed Tax under GST

 

A brief description about Self Assessed Tax under GST is explained here.   You may contact concerned government agency for latest update.

Self-Assessed Tax

Self GST assessment is available to every registered taxable person to assess the tax payable by him for any tax period. Thus, determination of tax liability is to be undertaken by the taxpayer himself and stated in the return to be filed by him. The return is required to primarily contain inward supplies in Form GSTR 2 and outward supplies in Form GSTR 1 of goods/services, Input Tax Credit, tax payable and tax paid. Hence, the furnishing of the return shall mean self-assessment of the taxpayer.

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