Seeks to bring into force Sections 118, 125, 129 & 130 of Finance Act, 2020 in order to bring amendment to Sections 2, 109, 168 & 172 of CGST Act w.e.f. 30.06.2017| GST Notification 49/2020

GST Notification 49/2020-Central Tax ,dt. 24-06-2020

Section 118, 125, 129 and 130 of the Finance Act, 2020 to be effective from 30.06.2020

(Section – 118 of Finance Act 2020 : This amendment eases the provision for claiming input tax credit on debit note u/s 16(4). The due date for availing input tax credit on the debit note has been amended. With this amendment, the date of actual invoice is no longer linked. This is a welcome move and will help the taxpayers a lot)

Mandeep Kulkarni

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