Know the key dates for compliances u/s 73 & 74 of CGST Act 2017
The last date for issue of various compliances under Section 73 and Section 74 of CGST Act 2017 for initiating action of short payment of Taxes is linked with the date for furnishing of Annual Return for the Financial Year to which the Tax not paid or Short paid or input tax credit wrongly availed or utilised relates to. Therefore, the due dates notified for filing the Annual return beyond the prescribed dates assumes great importance for initiating action under Section 73(2) under normal situation and Section 74(10) in situations where Tax has not been paid or short paid or ITC has been wrongly availed or utilised or erroneous refund has been granted by reason of fraud, or wilful misstatement or suppression of facts. The various relevant dates have been tabulated hereunder only for convenience of reference to everyone. SRIVATSAN.R NACIN, Chennai