What does the Section say?

Section 60 allows provisional assessment when a taxpayer is unable to determine the correct value of supply or applicable tax rate.

The taxpayer may apply to the proper officer seeking permission to pay tax provisionally. The officer may allow provisional assessment subject to execution of a bond and security.

After necessary verification, the officer finalizes the assessment. If additional tax becomes payable, the taxpayer must pay the balance along with applicable interest. If excess tax was paid, a refund may be granted according to GST provisions.

This provision helps businesses comply with GST even when valuation or classification issues are uncertain.

Example

A company is unsure whether a product attracts GST at 12% or 18%. It seeks provisional assessment and pays tax provisionally until the matter is finalized by the department.

Key Points

• Applicable in cases of uncertainty.
• Requires officer's approval.
• Bond and security may be required.
• Final assessment done later.
• Refund or additional tax may arise.

In One Line

Section 60 permits temporary tax determination when valuation or tax rate is uncertain.