GST Assessment Types and Procedures Quiz

Which assessment method requires the taxpayer to calculate and pay the tax liability on their own?

• Provisional Assessment

• Self-assessment

• Scrutiny Assessment

• Best Judgement Assessment

Answer explanation

Self-assessment requires taxpayers to calculate and pay their own tax liability. It is the correct choice.

Which form is used for Application for refund under section 61?

• ASMT-01

• ASMT-02

• ASMT-03

• ASMT-04

Answer explanation

The correct form for Application for refund under section 61 is ASMT-02.

What is the time limit for finalization of provisional assessment under section 60?

• 2 years

• 3 months

• 6 months

• 1 year

Answer explanation

The time limit for finalization of provisional assessment under section 60 is 6 months.

Which section deals with the assessment of non-filers of returns?

• Section 64

• Section 62

• Section 60

• Section 59

Answer explanation

Section 60 deals with the assessment of non-filers of returns. It is the correct choice.

What is the interest rate payable if any tax amount becomes payable subsequent to finalization of the provisional assessment?

• 10%

• 18%

• 15%

• 20%

Answer explanation

The interest rate payable is 10% if any tax amount becomes payable subsequent to finalization of the provisional assessment. This is the correct choice.

What is the maximum time limit for filing an appeal against the order of the Commissioner?

• 4 months

• 3 months

• 2 months

• 6 months

Answer explanation

The maximum time limit for filing an appeal against the Commissioner's order is 2 months.

Which section of the law pertains to the evaluation of unregistered individuals?

• Section 59

• Section 60

• Section 62

• Section 63

Answer explanation

Section 60 of the law pertains to the evaluation of unregistered individuals. It is the correct choice.

What is the importance of summary assessment in GST?

• To reduce tax liability

• To speed up the tax amount

• To prolong the assessment process

• To protect the interest of revenue

Answer explanation

Summary assessment in GST is important to protect the interest of revenue by ensuring accurate tax assessment and preventing tax evasion.

What is the consequence of filing a valid return within sixty days of the service of the assessment order?

• The assessment order is deemed to have been withdrawn under Section 62

• The assessment order is deemed to have been withdrawn under Section 64

• The assessment order is deemed to have been withdrawn under Section 63

• The assessment order is deemed to have been withdrawn under Section 60

Answer explanation

Filing a valid return within sixty days of the assessment order withdrawal under Section 62.

Which section allows the officer to proceed to assess the tax liability of a person to protect the interest of revenue?

• Section 59

• Section 60

• Section 62

• Section 64

Answer explanation

Section 62 allows the officer to assess tax liability to protect revenue interests.