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Date: 27-Sep-2024 Category: Extra Ordinary State: Union Government Country: India

17 of 2024 Central Tax

Issued by Ministry of Finance · Department of Revenue

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Executive Summary & Key Takeaways

Gazette Notification Description

  • This notification, issued by the Ministry of Finance (Department of Revenue), Central Board of Indirect Taxes and Customs (CBIC), specifies the effective dates for certain sections of the Finance (No. 2) Act, 2024 (15 of 2024).

Key Changes

  • The Finance (No. 2) Act, 2024, sections 118, 142, 148, and 150 came into force on September 27, 2024 (the date of publication of this notification).
  • Sections 114 to 117, 119 to 141, 143 to 147, 149, and 151 to 157 of the Finance (No. 2) Act, 2024, will come into force on November 1, 2024.

Impact Analysis

Taxpayers

  • Tax professionals will need to advise clients on the changes and ensure compliance.

Government

  • The staggered implementation allows for a phased approach to the changes, potentially easing the transition for both the government and taxpayers.

CBIC

  • The CBIC might see an increase in queries and requests for clarification from taxpayers regarding the new provisions.

Key Entities Referenced

Ministry of Finance (Department of Revenue): The issuing authority of the notification. Central Board of Indirect Taxes and Customs (CBIC): The agency responsible for implementing and enforcing indirect tax laws in India. Finance (No. 2) Act, 2024 (15 of 2024): The Act containing the sections whose effective dates are specified in the notification.
Official Source Record View Original Source →
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-27092024-257555 CG-DxLx-xEG-I2D7H0x9x2x0 24-257555 xxxGIDExxx असाधारण EXTRAORDINARY भाग II—खण् ड 3—उप-खण्ड (ii) PART II—Section 3—Sub-section (ii) प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 3895] नई दिल्ली, िुक्रिार, जसतम्ब र 27, 2024/आज‍ि न 5, 1946 No. 3895] NEW DELHI, FRIDAY, SEPTEMBER 27, 2024/ASVINA 5, 1946 जित्त मत्रं ालय (रािस्ट्ि जिभाग) (केंद्रीय प्रत्यक्ष कर और सीमािल्ु क बोडड) अजधसचू ना नई दिल् ली, 27 जसतम्बर, 2024 स.ं 17/2024-केंद्रीय कर का.आ. 4253(अ).—केंद्रीय सरकार, जित्त (स.ं 2) अजधजनयम, 2024 (2024 का 15) की धारा 1 की उपधारा (2) के खंड (ख) द्वारा प्रित्त िजियों का प्रयोग करते हुए .– (क) रािपत्र म ें इस अजधसूचना के प्रकािन की तारीख को ऐसी तारीख के रूप म ें जिसको उि अजधजनयम की धारा 118, धारा 142, धारा 148 और धारा 150 प्रिृत्त होगी,जनयत करती ह;ै और (ख) 1 निंबर, 2024, को ऐसी तारीख के रूप म ें जिसको उि अजधजनयम की धारा 114 स े धारा 117, धारा 119 स े धारा 141, धारा 143 स े धारा 147, धारा 149 और धारा 151 स े धारा 157 प्रिृत्त होगी, जनयत करती ह।ै [फा. स.ं सीबीआईसी-20006/20/2023-िीएसटी] रौिन कुमार, अिर सजचि 6303 GI/2024 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)] MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) NOTIFICATION New Delhi, the 27th September, 2024 No. 17/2024–Central Tax S.O. 4253(E).—In exercise of the powers conferred by clause (b) of sub-section (2) of section 1 of the Finance (No. 2) Act, 2024 (15 of 2024), the Central Government hereby appoints. — (a) the date of publication of this notification in the Official Gazette, as the date on which the provisions of sections 118, 142, 148 and 150 of the said Act shall come into force; and (b) the 1st day of November, 2024, as the date on which the provisions of sections 114 to 117, 119 to 141, 143 to 147, 149 and 151 to 157 of the said Act shall come into force. [F. No. CBIC-20006/20/2023-GST] RAUSHAN KUMAR, Under Secy. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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