GST-Effective date of sections 118, 125, 129 and 130 of Finance Act 2020
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS)
Notification No. 49/2020 –Central Tax
New Delhi, the 24th June, 2020
G.S.R.402(E).—In exercise of the powers conferred by sub-section (2) of section 1 of the Finance Act, 2020 (12 of 2020) (hereinafter referred to as the said Act), the Central Government hereby appoints the 30th day of June, 2020, as the date on which the provisions of sections 118, 125, 129 and 130 of the said Act, shall come into force.
[F. No. CBEC-20/06/09/2019-GST]
PRAMOD KUMAR, Director
Download Notification Click Here >>
- First-time experience in filing appeal a reasonable & bona fide cause for delay
- Non-disclosure of destination place in documents no ground for seizure u/s 129 of GST Act.
- Charging of exorbitant interest in commercial transactions not against morality or justice
- Assessees not required to prove “source of the source‟ of funds Prior to Finance Act 2022
- During pendency before settlement commission, assessee have right to contest assessment
