Clarification regarding time limit for certain compliances pursuant to issuance of Notification No. 18/2022-CT: Press Release

Press Release dated October 4th, 2022

The Central Government has appointed October 1st, 2022 as the date on which the provisions of sections 100 to 114, except clause (c) of section 110 and section 111, of the Finance Act, 2022 shall come into force vide Notification No. 18/2022-Central Tax dated September 28th, 2022.

Now, the time limit for several compliances such as claiming ITC, rectification of GST returns, adjustment of credit notes etc. have been extended and fixed as 30th November of the next financial year, or furnishing of annual return, whichever is earlier.

In this regard, it is clarified that the extended timelines for compliances are applicable 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 up to 30th November of the next financial year, or the date of furnishing annual return for the said financial year, whichever is earlier.

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