What is the effective date for GST sections amended in Finance (No. 2) Act 2019?

Last updated on March 31st, 2021 at 03:16 pm

What is the effective date for GST sections amended in Finance (No. 2) Act 2019?

Finance Act (No. 2) 2019 (23 of 2019)

The Finance Act (No. 2), 2019 (23 of 2019) of Parliament had received the assent of the President on the 1st August 2019.

Amendments & Insertions made in the CGST Act 2017 and the IGST Act 2017 were covered by section 92 to section 116 in the Finance Act (No. 2), 2019 (23 of 2019).

• Section 113, 115 and 116 of Finance (No. 2) Act, 2019 (23 of 2019) were made effective from 1st August 2019 i.e the date of publishing the Finance Act,2019 in Official Gazette.

• Sections 92 to 112 and section 114 of Finance (No. 2) Act, 2019 (23 of 2019), Central Government was specifically given powers to notify the date from which the mentioned sections will come in force. The power to notify the effective date was conferred in sub-section (2) of section 1 of the Finance (No. 2) Act, 2019 (23 of 2019).

• Click here to download the changes made in GST Acts by Finance (No.2) Act 2019 for ready reference

Notifications issued for the effective date of the sections of Finance Act (No. 2) 2019 (23 of 2019)

So in order to notify the date from which the following sections will come in force, CBIC has issued three notifications so far.

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Following sections of CGST Act, 2017 were amended/newly inserted by Finance (No.2) Act 2019 with their effective date of implementation

The following section was inserted in the IGST Act, 2017 by the Finance (No.2) Act 2019 and its effective date of implementation is notified

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CA Ankita Khetan

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Chartered Accountant in practice, DipIFRS (from ACCA, UK), Post Graduate in Commerce, Certified Independent Director (from IICA), and holds a certification in Forex and Treasury Management course (by ICAI).

She can be contacted at info.financepost@gmail.com

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