CENTRAL GOODS AND SERVICES TAX (AMENDMENT) ACT, 2018
Section 26 - Amendment of section 112
Amendment to Section 112: Limitation on Financial Obligations
Section 112 of the principal Act has been amended to include a financial cap. Specifically, in sub-section (8), clause (b), the amendment adds the phrase "subject to a maximum of fifty crore rupees" after the existing text "arising from the said order." This change introduces a limit on the financial obligations or liabilities that may arise from orders under this section, capping them at fifty crore rupees. This amendment aims to provide a clear ceiling on potential financial repercussions, offering more predictable financial exposure for parties involved.
Note: It is an AI generated summary for reference purpose only.
Amendment of section 112.
26. In section 112 of the principal Act, in sub-section (8), in clause (b), after the words “arising from the said order,” the words “subject to a maximum of fifty crore rupees,” shall be inserted.
