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CS Executive · Tax Laws and Practice · Procedural Compliance under GST

A registered supplier issues a credit note in March 2027 for a supply made in the financial year 2025-26. Under Section 34(2) of the CGST Act, 2017, what is the outer time limit for declaring it in the return?

The limit is 30 November following the end of the financial year of supply, here 30 November 2026, or the date of furnishing the relevant annual return if that is earlier. The older September deadline was replaced with November with effect from 1 October 2022.

  1. A30 September 2026
  2. B30 November 2026, or the date of furnishing the annual return if earlierCorrect
  3. C31 March 2027
  4. DThe due date of the return for the month in which the supply was made, plus one year

Explanation

Section 34(2) sets the limit as the thirtieth day of November following the end of the financial year of the supply, or the date of furnishing the relevant annual return, whichever is earlier. For supplies of 2025-26 that November is 2026. September was the earlier limit, replaced from 1-10-2022.

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