Limitation Period under GST

[Kaustubh Karandikar]

The limitation period under Section 73 is 3 years and under Section 74 it is 5 years. Under this situation, can the GST authorities conduct audit from July’2017? Opinion of the experts please

AI Summary

Experts Debate GST Audit Timelines: Sections 73 & 74 Limitations, Section 76's No Time Limit, Records for 72 Months The discussion revolves around the limitation periods under Sections 73 and 74 of the GST Act, which are 3 and 5 years, respectively. Experts debate whether GST authorities can audit from July 2017. One expert notes that the Supreme Court and CGST notifications have extended these periods, providing specific deadlines for audits and orders for fiscal years 2017-2020. Another mentions that audits revealing unpaid collected taxes can invoke Section 76, which has no time limit. It is highlighted that audits can proceed without restriction from July 2017, and records must be maintained for 72 months from the annual return due date.