EN 
This is to update you regarding a press release dated 04-10-2022 issued by the Ministry of Finance.
Vide Notification no.18/2022 Central tax dated 28.09.2022, from 01.10.2022 the provisions of Sec 100-114, except clause (c) Sec 110 and Sec 111, of Finance Act 2022 shall come into force.
The time limit of particular compliance has been extended to 30th November of the next financial year or the furnishing of the relevant annual return whichever is earlier.
|
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 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 particular 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 |
It is clarified that these extended timelines are applicable to the compliances for F.Y. 2021-22 onwards. Further, it is clarified that there is no due date extension for the filing of monthly returns for October or quarterly returns for September
If you need any assistance or clarification with the GST, feel free to contact the ASC Group.
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