Seeks to notify section 11 to 13 of Finance Act (No.1) 2024
Notification on Implementation Dates for Sections of the Finance Act, 2024
The Government of India's Ministry of Finance, specifically the Department of Revenue's Central Board of Indirect Taxes and Customs, has issued Notification No. 16/2024 – Central Tax on August 6, 2024. This notification exercises the powers provided by the Finance Act, 2024, to specify the commencement dates for certain sections of the Act. Specifically, it announces that Section 13 of the Finance Act, 2024, will come into effect on October 1, 2024. Furthermore, Sections 11 and 12 of the same Act will be implemented starting April 1, 2025. This schedule allows for a phased approach to the implementation of these legislative provisions, ensuring that the necessary administrative and procedural arrangements can be made in advance of these dates.
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GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS
NOTIFICATION No. 16/2024 – Central Tax
New Delhi, dated the 6th August, 2024
S.O. …..(E).—In exercise of the powers conferred by clause (b) of sub-section (2) of section 1 of the Finance Act, 2024 (8 of 2024), the Central Government hereby appoints, —
(a) the 1st day of October, 2024, as the date on which the provisions of sections 13 of the said Act shall come into force;
(b) the 1st day of April, 2025, as the date on which the provisions of sections 11 and 12 of the said Act shall come into force.
