India GST for Beginners by Jayaram Hiregange & Deepak Rao

Author:Jayaram Hiregange & Deepak Rao [Hiregange, Jayaram]
Language: eng
Format: epub
Publisher: White Falcon Publishing
Published: 2016-04-26T21:00:00+00:00

Self-Assessment Mode

– From a department based assessment regime, indirect taxes in India have gradually moved to the self-assessment mode over a period of time. All the major indirect taxes of VAT, Service Tax, Excise Duty and Customs are on self-assessment basis without any intervention from the government departments on the basic aspects of computation of taxes, payment of taxes and filing of returns on a day-to-day basis. GST would take the self-assessment mode to the next level with ample freedom for businesses to run the business and pay taxes without undue intervention by the governments in the day-to-day matters.

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