How to differentiate Self Assessed Tax with Provisional assessment?
What is Self Assessed Tax? How does Provisional assessment work under GST regime? What are the difference between Self Assessed Tax and Provisional assessment?
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.
A supplier will come to know the extent of his tax liability which has to be discharged on a continuous and regular basis only after assessment. Assessment means determination of tax liability and includes self-assessment, re-assessment, provisional assessment, summary assessment and best judgment assessment. The major determinants of the tax liability are generally the applicable tax rate and the value.
The details about Self Assessed Tax and Provisional assessment with simple language from GST terms have been mentioned in this web blog separately. I suggest you to read these articles on Self Assessed Tax and Provisional assessment, so as to enable you to have a clear idea on these shipping terms.
For your immediate reference, we give below web links on Self Assessed Tax and Provisional assessment separately below. You may kindly read the below links to know more about Provisional assessment and Self Assessed Tax.
Meaning of term Self Assessed Tax under GST
Term provisional assessment under GST
The above information easily explains about Provisional assessment and Self Assessed Tax.
We hope, you have satisfied with the difference between Self Assessed Tax and Provisional assessment explained above. Do you have different thought on difference between Provisional assessment and Self Assessed Tax?
Share below your thoughts about Self Assessed Tax and Provisional assessment
Learn Exports Imports Free, Click here
Click here to know GST rate of your goods or service
Section 102 of CGST Act, 2017 Rectification of advance ruling
Sec 98 of CGST Act, 2017 Procedure on receipt of application
Authority for advance ruling, Section 96 of CGST Act, 2017
Section 94 of CGST Act, 2017 Liability in other cases
Liability to pay tax, interest or penalty in certain cases, Sec 93 CGST Act
Section 90 Liability of partners of firm to pay tax, CGST Act, 2017
Liability of agent and principal, Sec 86 of CGST Act, 2017
Provisional attachment to protect revenue in certain cases, Sec 83 of CGST Act, 2017
Recovery of tax, Section 79 of CGST Act, 2017
GST exemptions for SME
GST, Composition scheme changes
Tax wrongfully collected and paid to Central Government or State Government, Sec 77 of CGST Act, 2017
Section 74 Determination of tax not paid, CGST Act, 2017
Officers to assist proper officers, Sec 72 of CGST Act, 2017
Unique Transaction Reference number (UTR) Means
Term Treatment for Zero Rated Supplies under GST
Transportation of goods without issue of invoice under GST
Meaning of Transitional arrangements for ITC under GST
What is ‘Late BL release charges’
What is ATA carnet and how ATA carnet works?
What is Bank Guarantee to customs in Import
What is Bond execution with customs in imports and exports
What is Brand Rate in Duty Drawback
What is BVQI inspection on export goods?
Documents required for Export from Kazakhstan
Customs procedures for Kazakhstan Export
Registration required to export from Kazakhstan