CBIC clarifies time limit for certain compliances under GST

The Central Board of Indirect Taxes and Customs (CBIC) has issued several circulars and notifications clarifying the time limit for certain compliances under GST. Here are some of the key clarifications:

1. Filing of annual return and reconciliation statement: The due date for filing GSTR-9 (annual return) and GSTR-9C (reconciliation statement) for the financial year 2020-21 has been extended to March 31, 2022. This extension was provided to give taxpayers more time to reconcile their annual returns and to address any discrepancies between their tax liability and the amount paid. It is important to note that this extension only applies to the financial year 2020-21 and not to previous or subsequent years.

2. Filing of FORM GST CMP-08: The due date for filing FORM GST CMP-08 (quarterly return for composition taxpayers) for the July-September 2021 quarter has been extended to November 30, 2021. This extension was provided to give composition taxpayers more time to file their quarterly returns and to comply with their GST obligations. It is important to note that composition taxpayers must still pay their tax liability for the July-September 2021 quarter by the original due date of October 18, 2021.

3. Filing of FORM GSTR-1: The due date for filing FORM GSTR-1 (monthly/quarterly return for regular taxpayers) for the months of September, October, and November 2021 has been extended to December 31, 2021. This extension was provided to give regular taxpayers more time to file their monthly/quarterly returns and to comply with their GST obligations. It is important to note that regular taxpayers must still pay their tax liability by the original due date.

4. Submission of FORM GST ITC-04: The due date for filing FORM GST ITC-04 (intimation of job work done) for the July-September 2021 quarter has been extended to November 30, 2021. This extension was provided to give taxpayers more time to file their intimation of job work done and to comply with their GST obligations.

Conclusion

In summary, the recent CBIC clarifications were provided to give taxpayers more time to comply with their GST obligations and to address any discrepancies between their tax liability and the amount paid. It is important for businesses to stay updated on these clarifications and comply with the revised deadlines to avoid penalties and other legal consequences under GST.