Process Of Assessment of Tax Liability Under GST

Assessment of Tax Under GST

The term “Assessment of tax” means acknowledgment of the tax liability of an individual. The tax liability of a person is determined by the amount of tax paid by him/her during the tax timeline. However, the types of taxes in the GST is same as the old regime. There are commonly two types of tax assessments, namely, assessment by the taxable individual by themselves, also known as self- assessment and the other one is the assessment by the tax authorities. Read More