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, 2023 ( 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

(Author can be reached at info@a2ztaxcorp.com)

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