The Central Board of Indirect Taxes and Customs (CBIC) has recently taken a proactive step by releasing Notification No. 56/2023–Central Tax on December 28, 2023. This notification focuses on extending the time limit prescribed under Section 73(10) of the Central Goods and Services Tax Act, 2017 ("the CGST Act").
Key Notification Highlights:
Extension Overview:
CBIC, through S.O. 5483(E), exercises powers conferred by Section 168A of the CGST Act.
The extension specifically applies to the issuance of orders under Section 73(9) for the recovery process of taxes related to FY 2018-19 and FY 2019-20.
Legal Basis:
The extension is in partial modification of previous notifications (No. 35/2020-Central Tax, No. 14/2021-Central Tax, No. 13/2022-Central Tax, and No. 09/2023-Central Tax).
Powers are exercised under Section 168A of the CGST Act, along with Section 20 of the Integrated Goods and Services Tax Act, 2017, and Section 21 of the Union Territory Goods and Services Tax Act, 2017.
Time Limit Extension:
The time limit specified under sub-section (10) of Section 73 is extended for the issuance of orders under sub-section (9) of Section 73.
For FY 2018-19, the extended deadline is the 30th day of April 2024.
For FY 2019-20, the extended deadline is the 31st day of August 2024.
Recommendations and Approval:
The extension is made based on the recommendations of the Council.
Official Details:
The official document is signed by RAGHAVENDRA PAL SINGH, Director, under F. No. CBIC-20013/7/2021-GST.
Stay updated with this significant development and its implications for the recovery of taxes for the specified financial years. For further details, refer to CBIC Notification No. 56/2023–Central Tax.
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