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December 18, 2020

CBIC extends some Due date of GST compliance till 31st March, 2021

by CA Shivam Jaiswal in GST

CBIC extends some Due date of GST compliance till 31st March, 2021

The COVID 19 pandemic has been largely disruptive to the growth of India. With an ever-increasing corona virus cases, lockdown was considered as an only solution to flatten the curve. However, the measures which were implemented to avoid a human disaster, have in turn led to the birth of several issues such as unemployment, recession, hindrance to economic growth, financial instability and so on.

Due to the emerging financial distress faced by most people on account of the large-scale economic distress caused by COVID 19, the Government of India had extended the due dates of various provisions to provide relief in the current pandemic situation.

The Central Board of Indirect Taxes and Customs (CBIC) is a part of the Department of Revenue under the Ministry of Finance, Government of India. It deals with the tasks of formulation of policy concerning levy and collection of Customs, Central Excise duties, Central Goods & Services Tax and IGST, prevention of smuggling and administration of matters relating to Customs, Central Excise, Central Goods & Services Tax, IGST and Narcotics to the extent under CBIC’s purview.

CBIC has now extended the Due Date of GST compliance till 31st March, 2021 during the period from the 20th March, 2020 to the 29th November, 2020, vide Notification No. 91/2020 – Central Tax dated 14.12.2020

The notification seeks to amend the notification No. 65/2020 Central Tax, dated the 1st September, 2020, which stated that where, any time limit for completion or compliance of any action, by any authority, has been specified in, or prescribed or notified under section 171 of the said Act, which fell during the period from the 20th of March, 2020 to the 29th of November, 2020, and where completion or compliance of such action has not been made within such time, then, the time-limit for completion or compliance of such action, shall be extended up to the 30th of November, 2020.

In terms of Section 171 of the CGST Act, 2017, the suppliers of goods and services should pass on the benefit of any reduction in the rate of tax or the benefit of input tax credit to the recipients by way of commensurate reduction in prices.

Now as per the revised notification, where, any time limit for completion or compliance of any action, by any authority, has been specified in, or prescribed or notified under section 171 of the said Act, which fell during the period from the 20th of March, 2020 to the 30th of March, 2021, and where completion or compliance of such action has not been made within such time, then, the time-limit for completion or compliance of such action, shall be extended up to the 31st of March, 2021.

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