CBIC notifies various Sections of the Finance Act, 2023

Notification:

The CBIC vide Notification No. 28/2023- Central Tax dated July 31, 2023, in exercise of the powers conferred by clause (b) of sub-section (2) of Section 1 of the Finance Act, 2021 ( 8 of 2023), appoints, —

(a) October 01, 2023, as the date on which the provisions of Sections 137 to 162 (except Sections 149 to 154) of the said Act shall come into force;

(b) August 01, 2023, as the date on which the provisions of Sections 149 to 154 of the said Act shall come into force.

Various Sections of the Notification:

1. Provisions that will come into effect from October 01, 2023

Central Goods and Service Tax

Section 137: Amendment of section 10.

Section 138: Amendment of section 16.

Section 139: Amendment of section 17.

Section 140: Amendment of section 23.

Section 141: Amendment of section 30.

Section 142: Amendment of section 37.

Section 143: Amendment of section 39.

Section 144: Amendment of section 44.

Section 145: Amendment of section 52.

Section 146: Amendment of section 54.

Section 147: Amendment of section 56.

Section 148: Amendment of section 62.

Section 155: Amendment of section 122.

Section 156: Amendment of section 132.

Section 157: Amendment of section 138.

Section 158: Insertion of new section 158A.

Section 159: Retrospective exemption to certain activities and transactions in Schedule III to the Central Goods and Services Tax Act.

Integrated Goods and Services Tax

Section 160: Amendment of section 2.

Section 161: Amendment of section 12.

Section 162: Amendment of section 13.

2. Provisions that will come into effect from August 01, 2023

Central Goods and Service Tax

Section 149: Substitution of section 109.

Section 150: Substitution of new section for section 110.

Section 151: Substitution of new section for section 114.

Section 152: Amendment of section 117.

Section 153: Amendment of section 118.

Section 154: Amendment of section 119.

The Notification can be accessed at: https://taxinformation.cbic.gov.in/view-pdf/1009806/ENG/Notifications

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(The views expressed in this article are strictly personal.)

By GST Info Tamil

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