GST Latest Update 26 August 2020: MOF released Notification 63/2020
CBIC released Notification 63/2020. Here provided GST Latest Update 26 August 2020. Central Board of Indirect Taxes & Customs behalf Department of Revenue, Ministry of Finance, Government of India released Notification No.63/2020- Central Tax on 25th August 2020. So looking for that notification check here the details which provided on it i.e G.S.R.527(E). In exercise of the power conferred by sub-section (2) of section 1 of the finance (No.2) Act.2019 (23 of 2019), The central government here by appoints the 1st day of September, 2020, As date on which the provision of section 100 of the finance (No.2) Act, 2019 (23 of 2019), Shall come into force.
GST Latest Update 26 August 2020
Here it is the actual notification which is announced by Ministry of Finance (Department of Revenue) CBIC. Verify the complete notification.
Blunder in drafting notification for effective date for amending S50.
Recovery of interest on delayed payment of tax only in cash is finally being made effective from 01/09/2020.
Not in line with suggestions by Council and as declred by Hon Finnace Minister of India.
Why ?#GST pic.twitter.com/aFQ3ShFZny— Girish Kamalakant Kulkarni (@GK2627) August 25, 2020
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Ministry of Finance @FinMinIndia notifies September 1, 2020 as the date on which Section 100 of the Finance Act , 2019 will come into force.
Section 100 of the Finance Act, 2019 inserted a proviso to Section 50 of the GST Act with respect to interest on late #GST payment. pic.twitter.com/vExW56sfx8
— Live Law (@LiveLawIndia) August 26, 2020
@cbic_india @GST_Council @Infosys_GSTN If GST Council recommendations will not be heard, how can we expect a normal taxpayer to put his point?
Notification No. 63/2020 – Prospective
GST Council Meeting – RetrospectiveAnother dilemma in GST sadly.@NeeleshTax#gst pic.twitter.com/qJjSurjX0T
— CA. Rajat Gurnani (@rajatgurnanica) August 25, 2020
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