Time Extension for GST ITC-04:
The Commissioner, with Board approval, extends the deadline for filing the GST ITC-04 form.
Applicable Period:
The extension is for the period between January 1, 2021, and March 31, 2021.
New Deadline:
Taxpayers now have until May 31, 2021, to furnish declarations in FORM GST ITC-04.
Legal Basis:
The extension is in line with the powers granted under section 168 of the Central Goods and Services Tax Act, 2017.
Notification Retroactivity:
The notification is deemed effective from April 25, 2021.
Compliance Flexibility:
Recognizing challenges, the extension aims to provide businesses with flexibility in meeting compliance requirements.
Encouraging Proactive Filing:
The government encourages businesses to take advantage of the extended timeline and fulfill their GST ITC-04 obligations promptly.
In response to industry needs, the government offers an extended timeframe for GST ITC-04 filing, acknowledging the complexities faced by businesses.