Rule 98 of CGST Rules - Provisional Assessment

Rule 98 of CGST Rules - Provisional Assessment

(updated as on 15.11.2017)

(1) Every registered person requesting for payment of tax on aprovisional basis in accordance with the provisions of sub-section (1) of section 60 shallfurnish an application along with the documents in support of his request, electronically inFORM GST ASMT-01on the common portal, either directly or through a FacilitationCentre notified by the Commissioner. (2) The proper officer may, on receipt of the application under sub-rule (1), issue a notice inFORM GST ASMT-02 requiring the registered person to furnish additional information ordocuments in support of his request and the applicant shall file a reply to the notice inFORM 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 paymentof tax on a provisional basis indicating the value or the rate or both on the basis of which theassessment is to be allowed on a provisional basis and the amount for which the bond is tobe executed and security to be furnished not exceeding twenty-five per cent. of the amountcovered under the bond. (4) The registered person shall execute a bond in accordance with the provisions of sub-section(2) of section 60 in FORM GST ASMT-05 along with a security in the form of abank guarantee for an amount as determined under sub-rule (3): Provided that a bond furnished to the proper officer under the State Goods andServices Tax Act or Integrated Goods and Services Tax Act shall be deemed to be a bondfurnished under the provisions of the Act and the rules made thereunder. Explanation.- For the purposes of this rule, the expression amount shall include theamount of integrated tax, central tax, State tax or Union territory tax and cess payable inrespect of the transaction. (5) The proper officer shall issue a notice in FORM GST ASMT-06, calling for informationand records required for finalization of assessment under sub-section (3) of section 60 andshall issue a final assessment order, specifying the amount payable by the registered personor 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 thesecurity 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 ensuringthat the applicant has paid the amount specified in sub-rule (5) and issue an order in FORMGST ASMT09 within a period of seven working days from the date of the receipt of theapplication under sub-rule (6).

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CHAPTER XI

ASSESSMENT AND AUDIT

Chapter XIof CGST Rules, 2017 consists of five rules relating to ASSESSMENT & AUDITRULES under the GST regime. All this rules are available for your ready reference. Rule 98 :Provisional Assessment Rule 99 :Scrutiny of returns Rule 100 :Assessment in certain cases Rule 101 : Audit Rule 102 : Special Audit Click Here to Buy CA Final Pendrive Classes at Discounted Rate

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