The Central Board of Indirect Taxes and Customs (CBIC) issued Notification No. 12/2024 - Central Tax dated July 10, 2024. This notification, exercised under the powers conferred by Section 164 of the CGST Act, introduces a new proviso to sub-rule (1) of Rule 62 of the CGST Rules, which affects the filing deadlines for taxpayers under the Composition Levy scheme.
Key Update in Rule 62 of the CGST Rules
The newly inserted proviso states:
"Provided that the return in FORM GSTR-4 for a financial year from FY 2024-25 onwards shall be required to be furnished by the registered person till the thirtieth day of June following the end of such financial year."
Conclusion
Registered taxpayers who pay tax under Section 10 of the CGST Act, known as the Composition Levy, now have until June 30th of the following financial year to file their Annual Return in FORM GSTR-4. This extension is applicable starting from the financial year 2024-25.
Official copy of the notification has been attached
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