The 47th GST Council meeting concluded today at Chandigarh has decided to exempt the time period from 01.03.2020 to 28.02.2022 from the calculation of the limitation period to file refund claims under sections 54 and 55 of the Central GST Act, 2017.
“The time period from 01.03.2020 to 28.02.2022 to be excluded from the calculation of the limitation period for filing a refund claim by an applicant under sections 54 and 55 of CGST Act, as well as for the issuance of demand/ order (by a proper officer) in respect of erroneous refunds under section 73 of CGST Act. Further, the limitation under section 73 for FY 2017-18 for issuance of an order in respect of other demands linked with due date of annual return, to be extended till 30th September 2023,” the Government said.
The decision would be a great relief to the taxpayers and businesses hit be the covid-19 pandemic and lockdown.
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