Best judgement assessment under gst
This query is : Resolved
22 November 2019
As per sec62,a taxpayer who fails to file return can be assessed on the basis of best judgement and the order shall be issued within 5 year from the due date of filing annual return for which tax not paid.But now gst dept. is issuing best judgement assessment order in firm ASMT13 for the tax period 8/19.Is it correct ?
24 November 2019
No ,
It is not correct . Department can not issue order within 5 years FROM the due date of Annual Return .
Though , there is another point of view by some experts - from the due date is valid for ascertaining 5 years time limit .
In my view , this notice is not valid and can be challenged
This issue has been very well explained in one of the you tube video by CA Kapil Jain of KJ Classes . Link for the video is being shared herewith :-
https://www.youtube.com/channel/UCHkfrwKv_XbsqoX53M8Mszg/search?query=notice
It is not correct . Department can not issue order within 5 years FROM the due date of Annual Return .
Though , there is another point of view by some experts - from the due date is valid for ascertaining 5 years time limit .
In my view , this notice is not valid and can be challenged
This issue has been very well explained in one of the you tube video by CA Kapil Jain of KJ Classes . Link for the video is being shared herewith :-
https://www.youtube.com/channel/UCHkfrwKv_XbsqoX53M8Mszg/search?query=notice
01 December 2019
In another occasion the dept.issued admt14 u/s 63 to a taxpayer for 18-19 whose registration was cancelled w.e.f 1.6.18 u/ 29(2).The notice was issued for 1.4.18 to 31.3.19 though r.c was active for 2 months.Is the notice correct?
02 December 2019
pl.mam answer it
02 December 2019
pl.mam answer it
03 December 2019
YES , it is correct .
A taxable person , whose registration has been cancelled under sun-section (2) of section 29 but who was liable to pay tax, the proper officer may proceed to assess the tax liability of such taxable person to the best of his judgment FOR THE RELEVANT TAX PERIOD and issue an assessment order within a period of five years from the date specified under section 44 for furnishing of the annual return FOR THE FINANCIAL YEAR to which the tax not paid relates:
A taxable person , whose registration has been cancelled under sun-section (2) of section 29 but who was liable to pay tax, the proper officer may proceed to assess the tax liability of such taxable person to the best of his judgment FOR THE RELEVANT TAX PERIOD and issue an assessment order within a period of five years from the date specified under section 44 for furnishing of the annual return FOR THE FINANCIAL YEAR to which the tax not paid relates:
03 December 2019
What do u mean by relevant tax period? Does it not mean to the unregistered period? Pl.mam explain me elaborately or else refer any link
04 December 2019
Anita bhadra ji pl.reply
06 December 2019
Nowhere in the act - its specified what exactly is relevant period for the purpose .
In my view , relevant period will be financial year
In my view , relevant period will be financial year
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