Implement Self-Assessed Taxes

GST self-assessment is required in several countries for certain business situations. Hence, the purchasing organization is responsible for remitting the self-assessed GSTs directly to the local tax authority.

Such taxes calculated on the invoice are not included in the amount payable to the supplier. Hence, they are accounted as a self-assessed tax liability of the purchasing organization.

Here's a case study for self-assessment:

The supply from an unregistered dealer to a registered dealer results in the obligation of the registered dealer as the receiver of goods to self-assess GST and assume the liability to pay the tax directly to the local government.