As we know, the Finance Bill, 2021 was introduced in Lok Sabha on 1st February 2021 and was passed by Lok Sabha on 23rd March 2021 with 127 new amendments in comparison to the Bill presented in Lok Sabha on 1st February 2021. The Finance Bill 2021 has now further received the Presidential assent on 28th March 2021 and accordingly the Government has notified the Finance Act, 2021.
The Government in this regard notified that Sections 2 to 88 shall come into force on 1 April 2021 and sections 108 to 123 (pertaining to amendment in CGST Act and IGST Act) shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint.
It is worth mentioning here that the Finance Act, 2021 (No. 13 of 2021) contains 172 Sections covering amendments to more than 20 Acts including Income Tax Act , CGST Act and IGST Act.
READ / DOWNLOAD FINANCE ACT, 2021
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