Amendment of Section 54: Introduction of Sub-section 8A
The Central Goods and Services Tax Act has been updated with a new provision in Section 54. This amendment introduces a new sub-section, labeled as (8A). According to this new sub-section, the government is granted the authority to manage the refund process for State tax. The manner in which these refunds will be disbursed is to be determined and prescribed by the government. This change allows for more flexibility and clarity in the refund process for State taxes under the GST framework. The specific procedures and guidelines for this disbursement will be outlined in future regulations. This amendment aims to streamline the refund process and ensure that it is handled efficiently and transparently.
Note: It is an AI generated summary for reference purpose only.
Amendment of section 54.
103. In section 54 of the Central Goods and Services Tax Act, after sub-section (8), the following sub-section shall be inserted, namely:––
“(8A) The Government may disburse the refund of the State tax in such manner as may be prescribed.”.
