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

Under the Central Goods and Services Tax Act, 2017, who is required to self-assess the tax payable and furnish a return for each tax period?

Every registered person must self-assess the tax payable under the CGST Act and furnish a return for each tax period. The assessment is made by the taxpayer, not the officer, and applies to all registered persons irrespective of turnover.

  1. AEvery registered personCorrect
  2. BOnly the proper officer of the department
  3. COnly persons whose turnover exceeds the highest slab
  4. DOnly the final consumer of the goods or services

Explanation

The Act provides that every registered person shall self-assess the taxes payable and furnish a return for each tax period. It is not restricted by turnover slabs, and the assessment is not carried out by the officer in the first instance. Consumers are not required to assess.

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