Union Budget 2023 (Direct And Indirect Tax Update)

1.1. Restriction on availing input tax credit (ITC) for corporate social responsibility (CSR) activities

1. No ITC to be available in respect of goods or services used or intended to be used for undertaking activities relating to CSR obligations, as referred to in section 135 of the Companies Act, 2013.

1.2. Maximum time limit prescribed for filing returns

1. A maximum time limit of 3 (three) years has been prescribed for filing GSTR 1, GSTR3B, GSTR 9 and GSTR 8 returns, as applicable. Post this, no assessee will be allowed to file the return, unless specifically allowed by the Government on recommendations of the GST Council.