The Ministry of Finance vide press release dated 04 October 2022 has announced the commencement of extensions to timelines for CGST compliances. The Central Government previously appointed 01.10.2022 as the date on which provisions of the Finance Act, 2022 providing extensions to timelines for CGST compliances shall come into force.
The 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:
| 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 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 of outward 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 statement furnished by a TCS operator |
It is clarified that the extended timelines for compliances are applicable to the compliances for FY 2021-22 onwards. 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.
