The Central Board of Indirect Taxes and Customs (CBIC) on December 28, 2023, extended the time limit for issuance of orders related to the recovery of tax not paid or short paid or of input tax credit wrongly availed or utilized under Section 73, sub-section (10) of Central Goods and Services Tax Act, 2017.
The following has been stated:
• In section 73, which states “Determination of tax not paid or short paid or erroneously refunded or input tax credit wrongly availed or utilised for any reason other than fraud or any wilful misstatement or suppression of facts”, under sub-section (10):
I. For the financial year 2018-19, up to April 30, 2024;
II. For the financial year 2019-20, up to August 31, 2024.
[Notification No 56/2023- Central Tax]
