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CMA Final · Indirect Tax Laws and Practice · Accounts and Records

Meena Components' annual return for FY 2022-23 was due on 31 December 2023. In an appeal about that year, the Appellate Authority finally disposes of the matter on 31 March 2030. Under Section 36, until when must Meena retain the books pertaining to the subject matter of the appeal?

Retention is the later of 72 months from the annual return due date (31 December 2029) and one year after final disposal of the appeal (31 March 2031). The later date, 31 March 2031, therefore applies.

  1. A31 December 2029, the 72-month period
  2. B31 March 2031, one year after final disposalCorrect
  3. C31 March 2036, six years after final disposal
  4. D31 December 2030, one year after the original due date

Explanation

The 72 months from 31 December 2023 ends 31 December 2029. The proviso requires retention for one year after final disposal (31 March 2031) or the 72-month period, whichever is later. 31 March 2031 is later, so it governs.

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