{"act":{"id":"finance-act-2020","short_title":"The Finance Act, 2020","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2020-2021.","act_number":null,"act_year":2020,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":157,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2020/"},"unit":"section","section":{"number":"127","heading":"Amendment of Section 132","text":"Amendment of section 132 127. In section 132 of the Central Goods and Services Tax Act, in sub-section (1),- (i) | for the words \"Whoever commits any of the following offences\", the words \"Whoever commits, or causes to commit and retain the benefits arising out of, any of the following offences'' shall be substituted; (ii) | for clause (c), the following clause shall be substituted, namely:- \"(c) avails input tax credit using the invoice or bill referred to in clause (b) or fraudulently avails input tax credit without any invoice or bill;\"; (iii) | in clause (e), the words \", fraudulently avails input tax credit\" shall be omitted.","html":"<p><b>Amendment of section 132</b></p><p><b>127. </b>In section 132 of the Central Goods and Services Tax Act, in sub-section (<i>1</i>),-</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>i</i>)</td><td></td><td>for the words \"Whoever commits any of the following offences\", the words \"Whoever commits, or causes to commit and retain the benefits arising out of, any of the following offences'' shall be substituted;</td></tr><tr><td>(<i>ii</i>)</td><td></td><td>for clause (<i>c</i>), the following clause shall be substituted, namely:-</td></tr><tr><td></td><td></td><td>\"(<i>c</i>) avails input tax credit using the invoice or bill referred to in clause (<i>b</i>) or fraudulently avails input tax credit without any invoice or bill;\";</td></tr><tr><td>(<i>iii</i>)</td><td></td><td>in clause (<i>e</i>), the words \", fraudulently avails input tax credit\" shall be omitted.</td></tr></table></div>","words":108,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2020/section/127/","note":null,"source_note":"Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument.","judgments_note":"Judgment holdings are the ratio decidendi as extracted from the order by eCourts India, reproduced unaltered. Reported judgments only.","licence":"Published with commentary and other original matter under s.52(1)(q)(ii), Copyright Act 1957."}