Provisions under Rule 98 of the Central Goods and Services Tax (CGST) Rules, 2017 relating to “Provisional Assessment”, are as under:
CGST Rule 98: Provisional Assessment (Chapter-XI: Assessment and Audit)
(1) Every registered person requesting for payment of tax on a provisional basis in accordance with the provisions of sub-section (1) of section 60 shall furnish an application along with the documents in support of his request, electronically in FORM GST ASMT 01 on the common portal, either directly or through a Facilitation Centre notified by the Commissioner.
(2) The proper officer may, on receipt of the application under sub-rule (1), issue a notice in FORM GST ASMT 02 requiring the registered person to furnish additional information or documents in support of his request and the applicant shall file a reply to the notice in FORM GST ASMT 03, and may appear in person before the said officer if he so desires.
(3) The proper officer shall issue an order in FORM GST ASMT 04 allowing the payment of tax on a provisional basis indicating the value or the rate or both on the basis of which the assessment is to be allowed on a provisional basis and the amount for which the bond is to be executed and security to be furnished not exceeding twenty five per cent. of the amount covered under the bond.
(4) The registered person shall execute a bond in accordance with the provisions of subsection (2) of section 60 in FORM GST ASMT 05 along with a security in the form of a bank guarantee for an amount as determined under sub-rule (3):
Provided that a bond furnished to the proper officer under the State Goods and Services Tax Act or Integrated Goods and Services Tax Act shall be deemed to be a bond furnished under the provisions of the Act and the rules made thereunder.
Explanation.- For the purposes of this rule, the expression “amount” shall include the amount of integrated tax, central tax, State tax or Union territory tax and cess payable in respect of the transaction.
(5) The proper officer shall issue a notice in FORM GST ASMT 06, calling for information and records required for finalization of assessment under sub-section (3) of section 60 and shall issue a final assessment order, specifying the amount payable by the registered person or the amount refundable, if any, in FORM GST ASMT 07.
(6) The applicant may file an application in FORM GST ASMT 08 for the release of the security furnished under sub-rule (4) after issue of the order under sub-rule (5).
(7) The proper officer shall release the security furnished under sub-rule (4), after ensuring that the applicant has paid the amount specified in sub-rule (5) and issue an order in FORM GST ASMT 09 within a period of seven working days from the date of the receipt of the application under sub-rule (6).
Note: The CGST Rules 2017 along with the prescribed Forms were initially notified vide Central Tax Notifications 3/2017 dt. 19/06/2017 (Rule 1 to 26), 10/2017 dt. 28/06/2017 (Rules 27 to 138) and 15/2017 dt. 01/07/2017 (Rules 139 to 162). These Rules/ Forms were subsequently amended by CBIC through various Notifications issued from time to time. Information on this page is a Rule-wise compilation of Amendments made by all such Notifications, with best possible efforts for accuracy. In any case, E&OE. For official/ updated information, please visit CBIC website.
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|CGST: CGST Act/ Definitions, CGST Rules|
|IGST: IGST Act/ Definitions, IGST Rules|
|UTGST: UTGST Act/ Definitions, UTGST Rules|
|CBIC Circulars (CGST/ IGST/ UTGST): 2021, 2020, 2019, 2018, 2017|
|CBIC Central Tax (CGST) Notifications: 2021, 2020, 2019, 2018, 2017|
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|CBIC Orders (CGST/ IGST/ UTGST): 2020, 2019, 2018, 2017|
|CBIC Press Releases: 2020, 2019, 2018, 2017|
|Note: For Official/ updated copy, please visit the CBIC website.|