Latest notification on Indirect Tax in India

1. Constitution of the Principal Bench of the Goods and Services Tax Appellate Tribunal (“GSTAT”):

The Central Government vide Notification No. S.O. 1(E). dated January 01, 2024 has notified the constitution of the Principal Bench of the Goods and Services Tax Appellate Tribunal (“GSTAT”).

The Government has invoked the powers under section 109(3) of the Central Goods and Services Tax Act, 2017 (“the CGST Act”). This supersedes a previous Notification No. S.O.1359(E) dated March 13, 2019, with the exception of prior actions. Acting on the recommendation of the GST Council, the Central Government establishes the Principal Bench of the GSTAT in New Delhi, effective immediately upon official Gazette publication.

Source: egazette.gov.in/(S(rpovbwvkitqqraxqa5wf3xli))/ViewPDF.aspx

2. Extension of time limit for issuance of SCN and passing of order in nonfraud cases for F.Y 2018-19 and 2019-20- Notification no. 56/2023 dated 28th December, 2023

The Central Board of Indirect Taxes and Customs has issued a Notification bearing no. 56/2023 dated 28th December 2023 regarding Extension of time limit for issuance of SCN and passing of order in non-fraud cases for FY 2018-19 and 2019-20. This extension pertains to the issuance of orders under Section 73(9) of the CGST Act, which involves the recovery of tax not paid, short paid, or input tax credit wrongly availed or utilized for the financial years 2018- 19 and 2019-20.

In this regards, the notification has been released by CBIC wherein it has clarified that:-

The Government, on the recommendations of the Council, hereby, extends the time limit specified under sub- section (10) of section 73 for issuance of order under sub-section (9) of section 73 of the said Act, for recovery of tax not paid or short paid or of input tax credit wrongly availed or utilized, relating to the period as specified below, namely :–

(i) For the financial year 2018-19, up to the 30th day of April, 2024; (hence Show Cause notice can now be issued until 31st day of January, 2024)

(ii) For the financial year 2019-20, up to the 31st day of August, 2024. (hence Show Cause notice can now be issued until 31st day of May, 2024)