Representational picture solely.
| Photo Credit: PTI
GST officers have been given extra time to issue demand notices for discrepancies in annual returns for 2018-19 and 2019-20 monetary years.
On December 28, the federal government prolonged the deadline on 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 on this regard. Currently, the deadline is March 31, 2024 and June 30, 2024, for 2018-19 and 2019-20 monetary years, respectively.
AMRG & Associates Senior Partner Rajat Mohan stated the extension pertains to issuance of orders for the restoration of tax liabilities, whether or not due to non-payment, underpayment, or inaccurate declare of enter tax credit score, for the monetary years 2018-19 and 2019-20. Previously, the federal government had revised these deadlines.
For the fiscal 2018-19, the deadline was prolonged to March 31, 2024 from the unique deadline of December 31, 2023. Similarly, for the fiscal yr 2019-20, the deadline was pushed to June 30, 2024, from the preliminary deadline of March 31, 2023.
