Regulatory Update:
Commissioner extends time limit for FORM GST ITC-04 declaration.
Legal Basis:
Pursuant to section 168 of the CGST Act, 2017.
Sub-rule (3) of rule 45 of the CGST Rules, 2017.
Extension Period:
Declaration for goods dispatched to/received from a job worker.
Applicable for July to September 2020.
Deadline extended till November 30, 2020.
Effective Date:
Notification deemed effective from October 25, 2020.
Director's Directive:
Pramod Kumar, Director at the Government of India, releases the notification.
Compliance Reminder:
Businesses urged to utilize extended timeline for ITC-04 declaration.
Ensures adherence to revised deadlines and regulatory requirements.
Board Approval:
Extension approved by the Board to facilitate smooth compliance.
Reflects responsiveness to industry needs amid challenging times.