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

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

Tejasvi

@tejasvi

October 6, 2022

Public Policy

164

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:

The extended timelines for compliances listed above are applicable for FY 2021-22 onwards.
The said compliances can be carried out in the relevant return filed/ furnished upto 30^th November of the next FY, ie, October return, or the date of furnishing GSTR-9 for the said FY, whichever is earlier.
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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Tejasvi