Section 121 - Retrospective effect to notification issued under clause (i) of section 20 of Integrated Goods and Services Tax read with sub-section (2) of section 7 of Central Goods and Services Tax Act
Section 121: Retrospective Effect of Notification under IGST and CGST Acts
This section discusses a notification by the Indian government regarding the Integrated Goods and Services Tax (IGST) and Central Goods and Services Tax (CGST) Acts. It states that a specific notification, originally issued on September 30, 2019, is considered to have been effective from July 1, 2017. This notification was made under the authority of section 20 of the IGST Act and section 7(2) of the CGST Act. The retrospective application means that the rules or provisions in this notification are treated as if they have been in place since July 1, 2017, even though the notification was issued later.
However, the section also clarifies that no refunds will be issued for any integrated tax that was collected before the notification was considered to be in effect. This means that even if the tax would not have been collected had the notification been effective earlier, no refunds will be given for such collections. Essentially, this section aims to backdate the effect of the notification to ensure consistency in the application of tax laws, while also protecting the government from having to refund taxes collected under the previous understanding of the law.
Note: It is an AI generated summary for reference purpose only.
Retrospective effect to notification issued under clause (i) of section 20 of Integrated Goods and Services Tax read with subsection (2) of section 7 of Central Goods and Services Tax Act.
121. (1) Subject to the provisions of sub-section (2), the notification of the Government of India in the Ministry of Finance (Department of Revenue) number G. S. R. 745(E),dated the 30th September, 2019 issued by the Central Government on the recommendations of the Council, in exercise of the powers under clause (i) of section 20 of the Integrated Goods and Services Tax Act, 2017, read with sub-section (2) of section 7 of the Central Goods and Services Tax Act, 2017, shall be deemed to have, and always to have, for all purposes, come into force on and from the 1st day of July, 2017.
(2) No refund shall be made of all such integrated tax which has been collected, but which would not have been so collected, had the notification referred to in sub-section (1) been in force at all material times.
