MISTAKE WHILE GENERATING E-WAY BILL WAS AN INADVERTENT HUMAN ERROR: MADHYA PRADESH HIGH COURT
September 23, 2022Cancellation of registration on non-filing of GST return
October 1, 2022
Extension of timeline for amendment in GST returns and claiming ITC vide notification No. 18/2022-Central Tax dated 28.09.2022.
Finance Act, 2022 had proposed certain amendments to the provisions of the CGST Act. However, these amendments were proposed to be made effective from a date to be notified later. Now the Government, through notification No. 18/2022-Central Tax dated 28.09.2022, has notified 1st October 2022 as the date on which these amendments will be effective. Some of the important amendments are as follows:
- Extension of time limit to avail ITC – Earlier the time limit for availing ITC of a financial year was the due date of furnishing the GSTR-3B return for September of the subsequent financial year. Now this time limit is extended till 30th November of the subsequent financial year. Thereby, ITC of the financial year 2021-22 can be claimed till 30th November 2022 i.e. in October month GSTR 3B which has to be filed maximum by 30th November.
- Extension of time limit to issue credit notes- As provided under Section 34 of the CGST Act, credit notes in respect of supplies made during a financial year can be given till September month of the subsequent financial year. Now this time limit is extended till 30th November of the subsequent financial year. Thereby, credit notes in respect of supplies made during the financial year 2021-22 can be issued until 30th November 2022.
- Extension of time limit for correction/amendment in GSTR-1 and GSTR-3B returns- Earlier rectification of any error or omission made in GSTR-3B/GSTR1 return filed during any financial year was allowed till the due date of furnishing of GSTR-3B return for September following the end of the said financial year. Now this time limit is extended till 30th November of the subsequent financial year. Thereby, now such rectification for the financial year 2021-22 can be made till 30th November 2022 i.e. in October month GSTR 3B which has to be filed maximum by 30th November.
