NEW DELHI, Dec 29: GST officers have been given more time to issue demand notices for discrepancies in annual returns for 2018-19 and 2019-20 financial years.
On December 28, the government extended the deadline in this regard for 2018-19 fiscal to April 30, 2024 and for 2019-20 fiscal to August 31, 2024. A notification has been issued by the Finance Ministry in this regard. Currently, the deadline is March 31, 2024 and June 30, 2024, for 2018-19 and 2019-20 financial years, respectively.
AMRG & Associates Senior Partner Rajat Mohan said the extension pertains to issuance of orders for the recovery of tax liabilities, whether due to non-payment, underpayment, or erroneous claim of input tax credit, for the financial years 2018-19 and 2019-20. Previously, the government had revised these deadlines.
For the fiscal 2018-19, the deadline was extended to March 31, 2024 from the original deadline of December 31, 2023. Similarly, for the fiscal year 2019-20, the deadline was pushed to June 30, 2024, from the initial deadline of March 31, 2023. |
