NEW DELHI, Dec 29: Demand notices for discrepancies in annual returns for the 2018–19 and 2019–20 financial years will now have more time to be issued by GST officers. The deadline for the 2018–19 fiscal year was extended by the government on December 28 to April 30, 2024, and for the 2019–20 fiscal year to August 31, 2024. The Finance Ministry has released a notification regarding this. The deadline is currently set for the 2018–19 and 2019–20 fiscal years, respectively, on March 31, 2024 and June 30, 2024, respectively. The extension, according to Rajat Mohan, Senior Partner at AMRG & Associates, relates to the issuance of orders for the recovery of tax liabilities for the financial years 2018–19 and 2019–20, regardless of whether they are the result of underpayment, nonpayment, or an incorrect claim of input tax credit. The government had changed these deadlines in the past. The deadline for the fiscal year 2018–19 was moved from December 31, 2023, to March 31, 2024. Similarly, the deadline for the fiscal year 2019–20 was moved from its original March 31, 2023 deadline to June 30, 2024.
