Time limit for the following compliances in respect of a particular financial year has been extended and fixed as 30th November of the next financial year, or furnishing of the relevant annual return, whichever is earlier:
It is clarified that the extended timelines for compliances listed in below table are applicable to the compliances for FY 2021-22 onwards.
| Relevant section of theFinance Act, 2022 | Corresponding provisionof the CGST Act, 2017 | Corresponding compliance requirements |
| Clause (b) to Section 100 | Section 16(4) | Claiming of ITC in respect of any invoice ordebit note in the return |
| Section 102 | Section 34(2) | Declaration of the details of credit notes inthe return |
| Clause (c) to Section 103 | Proviso to Section 37(3) | Rectification of particulars in details ofoutward supplies |
| Clause (c) to Section 105 | Proviso to Section 39(9) | Rectification of particulars furnished in areturn |
| Section 112 | Proviso to Section 52(6) | Rectification of particulars in the statementfurnished by a TCS operator |
It is further clarified that the said compliances in respect of a financial year can be carried out in the relevant return or the statement filed/ furnished upto 30th November of the next financial year, or the date of furnishing annual return for the said financial year, which ever is earlier.
It is also clarified that no extension of due date of filing monthly return/ statement for the month of October (due in November) or the due date of filing quarterly return/ statement for the quarter ending September has been made vide the amendments in CGST Act, 2017 notified through Notification No. 18/2022-Central Tax dated 28.09.2022.
Disclaimer: This Article is only a knowledge sharing initiative and is based on the Relevant Provisions as applicable and as per the information existing at the time of the preparation. In no event RMPS & Co. or the Author or any other persons be liable for any direct and indirect result from this Article or any inadvertent omission of the provisions, update etc if any.
Press Release can be accessed at https://www.pib.gov.in/PressReleasePage.aspx?PRID=1865179 .
Published on: October 5, 2022