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The Goods and Services Tax (GST) Council has extended the deadline for tax officials to demand and recover dues from businesses for 2018-19 and 2019-20. For FY19 dues, the deadline is now until the end of April 2024, while for FY20 dues, it has been extended to the end of August next year. The prescribed time limit for recovering dues is three years from the date of filing GST annual returns. This extension is beneficial for tax officials, enabling them to take appropriate action in instances of tax discrepancies, such as underpayment of taxes, improper use of tax credits, or incorrect tax refunds. However, this time limit does not extend to cases involving fraud, wilful misstatement, or suppression of facts. Tax experts believe the extension is a response to accumulating cases with the adjudicating authority and concerns about businesses not having adequate time to provide requested information.
CBIC extends GST dues recovery date
AshaKanta Sharma
Extension of GST recovery deadline grants authorities additional time to pursue tax discrepancies while excluding fraud cases. Extension of the statutory recovery timeline under Notification No. 56/2023 permits tax authorities additional time to demand and recover GST dues for specified fiscal years; the prescribed three-year limitation applies from the date of filing the GST annual return and allows action for underpayment, incorrect refunds, or improper use of input tax credit, but excludes cases of fraud, wilful misstatement, or suppression of facts. (AI Summary)