The GST provisions in the Finance Act, 2024, will take effect following the GST Council meeting scheduled for September 9, 2024 (tentatively) . This update was confirmed by the Central Board of Indirect Taxes and Customs ( CBIC ) in response to a tweet.
The CBIC was responding to a tweet stating “16(4) me relief de di Par notification se notify karna bhul gye Officer keh raha hain case time barring ho raha hain main toh demand nikalunga.. Kuch toh dhang se kar lo… Bilkul hi pagal karke chhodoge kya professionals ko..”
The board, from its official twitter account replied that “The notification to bring into force the provisions of Finance Act in respect of GST is to be issued by the Central government on the recommendations of the GST Council, as it would need to be done in coordination with the states, who are required to make similar amendments in their SGST Acts. GST Council is meeting tentatively on 9th September 2024, where the issue will be placed before the Council for its recommendations.”
Thus, the GST amnesty and Section 16(4) relief notifications will be issued after the council meeting. Finance Minister Nirmala Sitharaman presented the Union Budget for the fiscal year 2024-25, marking the seventh consecutive budget under her stewardship and the first of the Modi 3.0 administration.
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