TMI BlogLimitation Period under GSTX X X X Extracts X X X X X X X X Extracts X X X X ..... 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 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 not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ifications . 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 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 i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n 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 issue of SCN/adjudication under Section 74 , documented evidence of willful fraudulent evasion of tax must be there. Otherwise jurisdiction under Sec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion 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 and ongoing discussion, following portion of Section 36 of the CGST Act, 2017 is worth noting: Every registered person req ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uired 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 accounts and records : Provided that ......................... Due date of filing annual return for FY 17-18 was 5/7th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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, I see NO reason to deny Dept. from conducting audit of records of tax-payer u/s 65 till expiry of above-explained tim ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e-limits for respective FY. These are ex facie views of mine and the same should not be construed as professional advice / suggestion. - Limitation Period under GST - Query Started By: - Kaustubh Karandikar Dated:- 1-2-2024 Last Replied Date:- 3-2-2024 Goods and Services Tax - GST - Got 5 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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