GST officers have been given more time to issue demand notices for discrepancies in annual returns for 2018-19 and 2019-20 financial years.
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On Thursday, the government extended the deadline in this regard for 2018-19 fiscal to April 30, 2024 and for 2019-20 fiscal to August 31, 2024.
A notification has been issued by the finance ministry in this regard.
Currently, the deadline is March 31, 2024 and June 30, 2024, for 2018-19 and 2019-20 financial years, respectively.
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AMRG & Associates Senior Partner Rajat Mohan said the extension pertains to issuance of orders for the recovery of tax liabilities, whether due to non-payment, underpayment, or erroneous claim of input tax credit, for the financial years 2018-19 and 2019-20.
Previously, the government had revised these deadlines.
For the fiscal 2018-19, the deadline was extended to March 31, 2024 from the original deadline of December 31, 2023.
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Similarly, for the fiscal year 2019-20, the deadline was pushed to June 30, 2024, from the initial deadline of March 31, 2023.
