Vide Notification No. 16/2021 – Central Tax, the Central Board of Indirect Taxes and Customs has appointed 1st June 2021 as the date on which Section 112 of the Finance Act 2021 shall come into force. This section seeks to amend Section 50 of the Central Goods and Services Tax Act, 2017 which relates to Interest on Delayed Payment of GST. Read the official notification below:
[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Subsection (ii)]
Government of India
Ministry of Finance
(Department of Revenue)
Central Board of Indirect Taxes and Customs
Notification No. 16/2021 – Central Tax
New Delhi, the 1st June, 2021
S.O. ..... (E).- In exercise of the powers conferred by sub-section (2) of section 1 of the Finance Act, 2021 (13 of 2021) (hereinafter referred to as the said Act), the Central Government hereby appoints the 1st day of June, 2021, as the date on which the provisions of section 112 of the said Act shall come into force.
[F. No. CBIC-20001/5/2021]
(Rajeev Ranjan)
Under Secretary to the Government of India
CAclubindia
