Central Board of Indirect Taxes and Customs (CBIC) has issued a press release clarifying the extension of the time limit for certain compliances w.e.f. 1st October 2022.
On 28th September 2022, CBIC issued a notification to extend the time limit for the following compliances to 30th November of the next financial year or furnishing of the relevant annual return (GSTR-9), whichever is earlier:
| Sections under
the CGST Act, 2017 |
Particulars |
| Section 16(4) | The time limit for claiming ITC on an invoice or debit note related to an FY |
| Section 34(2) | Reporting credit notes related to an FY |
| Proviso to Section 37(3) | Amendment to details reported in GSTR-1 related to an FY |
| Proviso to Section 39(9) | Amendment to details reported in GSTR-3B related to an FY |
| Proviso to Section 52(6) | Amendments to details reported in GSTR-8 by a TCS operator |
Also, the department clarified the following points:
- The extended timelines apply to the compliances for FY 2021-22.
- The taxpayers can carry out the abovementioned compliances in the GSTR-1, GSTR-3B, or Invoice Furnishing Facility (IFF) filed up to 30th November of the next financial year or the date of filing the relevant GSTR-9, whichever is earlier.
- Also, there will be no extension of the due date for filing GSTR-1, GSTR-3B or IFF for the October 2022 or Jul-Sep 2022 quarter.
So, it can be concluded that the GSTR-1 & 3B of October 2022 is the last chance for monthly return filers to claim Input Tax Credit (ITC) related to FY 21-22. Coming to quarterly return filers, they can amend Business-to-Business (B2B) invoices or CDNs of FY 2021-22 only until Jul-Sept 2022 quarter returns.
For any clarifications/feedback on the topic, please contact the writer at dvsr.anjaneyulu@clear.in
DVSR Anjaneyulu known as AJ, is a Chartered Accountant by profession. Loves to listening to music & spending time with family and friends.
