Section 44 - Self-Assessment - MODEL GST LAW - GOODS AND SERVICES TAX ACT, 2016 - Draft June 2016

CHAPTER XII ASSESSMENT 44. Self-Assessment Every registered taxable person shall himself assess the taxes payable under this Act and furnish a return for each tax period as specified under section 27. Explanation.- For the purposes of this section, where goods received in pursuance of an inward supply are returned by the recipient to the supplier within a period of six months from the date of the relevant invoice, the tax payable on such return supply shall be equal to the input tax credit availed of earlier in respect of such inward supply.