TaxTMI 
TaxTMI 
Limitation Period under GST
X X X X Extracts X X X X
X X X X Extracts X X X X
....imitation Period under GST<br> Query (Issue) Started By: - Kaustubh Karandikar Dated:- 1-2-2024 Last Reply Date:- 3-2-2024 Goods and Services Tax - GST<br>Got 5 Replies<br>GST<br>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 Reply By Pradeep Reddy: The ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....Reply: Limitation is to issue SCN in normal cases is 3 years, however it has been extended multiple times vide Supreme Court Suo Moto order on limitation and CGST notifications. Considering the above time limit to complete audit and issue show cause notice is as follows: FY 17-18- 30.09.2023 FY 18-19- 31.01.2024 FY 19-20- 31.05.2024 Time limit to pass order against such show cause notice are ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....as follows FY 17-18- 31.12.2023 FY 18-19- 30.04.2024 FY 19-20- 31.08.2024 Reply By Padmanathan Kollengode: The Reply: Yes. Audit need not always culminate in 73 or 74. Suppose audit reveals that tax has been collected and not paid, notice under section 76 can also be issued for which there is no time limit specified. Reply By Sadanand Bulbule: The Reply: Dear querist For the purpose of iss....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ue of SCN/adjudication under Section 74, documented evidence of willful fraudulent evasion of tax must be there. Otherwise jurisdiction under Section 74 cannot be invoked just like that. Reply By KASTURI SETHI: The Reply: There is no such restriction in conducting audit from July, 17 now. I also support the views of the experts Reply By Amit Agrawal: The Reply: In the context of query raised a....
X X X X Extracts X X X X
X X X X Extracts X X X X
....nd ongoing discussion, following portion of Section 36 of the CGST Act, 2017 is worth noting: "Every registered person required to keep and maintain books of account or other records in accordance with the provisions of sub-section (1) of section 35 shall retain them until the expiry of seventy-two months from the due date of furnishing of annual return for the year pertaining to such accou....
X X X X Extracts X X X X
X X X X Extracts X X X X
....nts and records: Provided that ........................." Due date of filing annual return for FY 17-18 was 5/7th February, 2020 and tax-payers are required to maintain books of account or other records for FY 17-18 in accordance with the provisions of sub-section (1) of section 35 at-least till 5/7th February, 2026. Similar timelines can be worked out for succeeding financial years. And,....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... I see NO reason to deny Dept. from conducting audit of records of tax-payer u/s 65 till expiry of above-explained time-limits for respective FY. These are ex facie views of mine and the same should not be construed as professional advice / suggestion.<br> Discussion Forum - Knowledge Sharing ....