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CS Executive · Tax Laws and Practice · Concept of Indirect Taxes at a Glance

Section 59 of the CGST Act, 2017 links self-assessment with the filing of returns. Which statement correctly reflects this link?

The registered person himself assesses the tax payable and furnishes a return for each tax period as specified under section 39. Assessment is not done first by the officer, is not annual, and is not carried out by the recipient of the supply.

  1. AThe registered person self-assesses the tax and furnishes a return for each tax period as specified under section 39Correct
  2. BThe registered person furnishes a return only after the proper officer has assessed the tax
  3. CSelf-assessment is done once a year and no return is needed for each tax period
  4. DThe return is furnished by the recipient of supply after assessing the supplier's tax

Explanation

Section 59 requires the registered person to self-assess taxes payable and furnish a return for each tax period as specified under section 39. The officer does not assess first, and the duty is not annual or shifted to the recipient.

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