Chapter XII (Sections 59-64) of the Central Goods and Services Tax (CGST) Act, 2017 deals with provisions related to assessment. Section 59 of Central Goods and Services Tax Act, 2017 (12 of 2017) provides for self-assessment under CGST Act 2017.
Recently, we have discussed in detail section 58 (i.e. Utilisation of Fund) of CGST Act 2017. Today, we learn the provisions of section 59 of the CGST Act 2017. Complete Details of CGST Section 59 – Self-assessment. You may CLICK HERE to download list of all sections of CGST Act 2017 in PDF format.
Notes on Section 59 of CGST Act 2017
Section 59 of CGST Act 2017 shall come into force on 01.07.2017 vide Notification No. 9/2017 – Central Tax, G.S.R. 658(E), dated 28.06.2017. In this note, you will learn detail of the provisions of section 59 of CGST Act 2017 read with Central GST Rules 2017.
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.