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GST Update: Clarification on extension of timelines w.r.t sections of Finance Act 2022
GST Update: Clarification on extension of timelines w.r.t sections of Finance Act 2022

October 6, 2022

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Central Board of Indirect Taxes and Customs (CBIC) issues a press release on October 4 to provide clarifications with respect to extension of time limits of certain compliances.  

Relevant section of the Finance Act, 2022

Corresponding provision of the CGST Act, 2017

Corresponding compliance requirements

Clause (b) to Section 100

Section 16(4)

Claiming of ITC in respect of any invoice or debit note in the return

Section 102

Section 34(2)

Declaration of the details of credit notes in the return

Clause (c) to Section 103

Proviso to Section 37(3)

Rectification of particulars in details of outward supplies

Clause (c) to Section 105

Proviso to Section 39(9)

Rectification of particulars furnished in a return

Section 112

Proviso to Section 52(6)

Rectification of particulars in the statement furnished by a TCS operator

 

In this regard, NASSCOM made a submission to GST Policy wing requesting for clarity. Our submission can be accessed from here.

It has been clarified that:

  1. The extended timelines for compliances listed above are applicable for FY 2021-22 onwards.
  2. The said compliances can be carried out in the relevant return filed/ furnished upto 30th November of the next FY, ie, October return, or the date of furnishing GSTR-9 for the said FY, whichever is earlier.
  3. The 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 not been extended vide the said amendments.

This will provide clarity to the industry. Copy of the press release is attached for your reference.


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Download Attachment

press release041022.pdf

Tejasvi

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