Issues Clarification on Extended Timelines for GST Compliance by CBIC

Introduction

The Central Board of Indirect Taxes and Customs, formerly called the Central Board of Excise and Customs is one of the Boards constituted under the statute of the Central Boards of Revenue Act, 1963 under the Ministry of Finance, the Government of India, CBIC is a subordinate body to the department of Revenue. It deals mainly with the tasks of formulation and implementation of policy whose concern with the levy and collection of Customs duties, Central Excise duties, Goods & Services Tax, prevention of smuggling, and administration of matters relating to Customs, Central Excise, etc. It is the administrative authority for its subordinate organizations in which including Custom Houses, and the Central Revenues Control Laboratory.

Central Board of Indirect Taxes and Customs

The Central Board of Indirect Taxes and Customs is a statutory body established under the Central Boards of Revenue Act of 1963. It was formed in 1964 when the Central Board of Revenue was split into the Central Board of Direct Taxes and the Central Board of Excise and Customs which was known as the Central Board of Indirect Taxes and Customs in 2018. According to the Income Tax Department, the Central Board of Revenue was established under the Central Board of Revenue Act of 1924.

Issues Clarification on Extended Timelines for GST Compliance by CBIC 

The CBIC has issued the notification dated 28th September 2022 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. 

• Section 102 of the Finance Act, 2022 is related to the declaration of the details of credit notes in the return. 

• Section 103(c) of the Finance Act of 2022 is related to addresses the rectification of particulars in outward supply details. 

• Section 105(c) of the Finance Act, 2022 is related to the rectification of particulars furnished in a return. 

• Section 112 of the Finance Act, 2022 is related to the rectification of particulars in the statement furnished by a TCS operator.

Extended Time Limit of Compliances

The Time Limit for the mentioned below compliances of a particular financial year has been extended and fixed is 30th November of the next Financial Year or furnishing of the relevant annual return whichever is expeditious:

Doubt has been raised whether the said extended timelines are applicable in respect of compliances for the Financial Year 2022-23 onwards or whether the same is also applicable to the compliances for Financial Year 2021-22. Then CBIC clarified the extended timelines for compliances listed given above. These apply to the compliances for Financial Year 2021-22 onwards. It is clarified that the said compliances in respect of FY can be carried out in the relevant return or the statement furnished up to 30th November of the next FY or the date of filed annual return for the said financial year. CBIC also clarified that no extension of the due date for furnishing the monthly returns for October month or the due date of furnishing quarterly returns or statements for the quarter ending September has been made in the amendment in CGST Act, 2017 that is notified in notification no. 18/ 2022 Central Tax dated 28th September 2022.

Conclusion

It concluded that the Central Board of Indirect Taxes and Customs is a statutory body established under the Central Boards of Revenue Act of 1963. It was formed in 1964 when the Central Board of Revenue was split into the Central Board of Direct Taxes and the Central Board of Excise and Customs which was known as the Central Board of Indirect Taxes and Customs in 2018. It deals mainly with the tasks of formulation and implementation of policy whose concern with the levy and collection of Customs duties, Central Excise duties, Goods & Services Tax, prevention of smuggling, and administration of matters relating to Customs, Central Excise, etc. It is the administrative authority for its subordinate organizations in which including Custom Houses, and the Central Revenues Control Laboratory.

Author:

Radhika Punani
Ambala
I am Radhika from Ambala city. I qualified LLM from Kurukshetra University and B.A.LLB from Maharishi Markandeshwar University