Provisions under Section 59 of the Central Goods and Services Tax (CGST) Act, 2017 relating to “Self Assessment of Taxes Payable”, are as under:
Section 59 of CGST Act 2017: Self Assessment (CHAPTER XII – ASSESSMENT)
Every registered person shall self-assess the taxes payable under this Act and furnish a return for each tax period as specified under section 39.
1. CBEC notifies 1st July 2017 as the Commencement date for Section 59 of the CGST Act 2017, vide Notification 9/2017 Central Tax.
Govt. has notified the CGST Act, 2017 on 12th April, 2017, which has subsequently been amended through the CGST (Extension to J&K) Act 2017, Finance Act 2018, CGST Amendment Act 2018, Finance (No. 2) Act 2019, Finance Act 2020, Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance 2020. Further, CBEC/ CBIC has also issued various Notifications from time to time, relating to the commencement date of various Sections/ Provisions in the respective CGST/ Amendment Acts, wherever required.
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