CBIC issued Clarification on Time Limit for Certain GST Compliances

CBIC issued Clarification on Time Limit for Certain GST Compliances

Reetu | Oct 6, 2022 |

CBIC issued Clarification on Time Limit for Certain GST Compliances

CBIC issued Clarification on Time Limit for Certain GST Compliances

The Central Board of Indirect Taxes and Custom(CBIC) has issued Clarification regarding time limit for certain compliances via issuing Notification.

The Notification Stated, “In exercise of the powers conferred by clause(b) of sub-section(2) of section 1 of the Finance Act, 2022 (6 of 2022), the Central Government hereby appoints the 1st day of October, 2022, as the date on which the provisions of sections 100 to 114, except clause (c)of section 110 and section 111, of the said Act shall come into force.”

As a result, the deadline for the following compliances with regard to a specific financial year has been extended and fixed as 30th November of the following financial year or the furnishing of the relevant annual return:

There have been doubts about whether the extended dates mentioned apply only to compliances for FY 2022–23 or if they also apply to compliances for FY 2021–22. There have also been concerns over whether the deadlines for the aforementioned compliances extend to the date of filing/furnishing the return or statement for the month of November 2022, or if the deadlines can be completed in a return or statement filed/furnished up until the 30th of November 2022.

The CBIC made it clear that the compliances for FY 2021–22 and onwards are subject to the extended compliance periods indicated in para 2.

The CBIC further clarified that the aforementioned compliances with regard to a financial year may be completed in the pertinent return or statement filed or furnished up to November 30 of the following financial year, or up to the date of furnishing the annual return for the aforementioned financial year, whichever is earlier. It is also made clear that the CGST Act of 2017 amendments, which were announced through Notification No. 18/2022-Central Tax dated 28.09.2022, did not grant any extensions to the deadlines for filing monthly returns and statements for the month of October (due in November) or the deadlines for filing quarterly returns and statements for the quarter ending in September.

To Read Notification Download PDF Given Below:

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