Vide Notification No. 63/2020-Central Tax, dated 25.08.2020, the Central Government appoints the 1st day of September, 2020, as the date on which the provisions of section 100 of the Finance (No. 2) Act, 2019 (23 of 2019), shall come into force.
Section 100 of the Finance Act, 2019 inserted a proviso to section 50(1) of the Central Goods and Services Tax Act, 2017 which read as below-
“Provided that the interest on tax payable in respect of supplies made during a tax period and declared in the return for the said period furnished after the due date in accordance with the provisions of section 39, except where such return is furnished after commencement of any proceedings under section 73 or section 74 in respect of the said period, shall be levied on that portion of the tax that is paid by debiting the electronic cash ledger.”.
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