{"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":"128","heading":"Amendment of Section 140","text":"Amendment of section 140 128. In section 140 of the Central Goods and Services Tax Act, with effect from the 1st day of July, 2017,- (a) | in sub-section (1), after the words \"existing law\", the words \"within such time and\" shall be inserted and shall be deemed to have been inserted; (b) | in sub-section (2), after the words \"appointed day\", the words \"within such time and\" shall be inserted and shall be deemed to have been inserted; (c) | in sub-section (3), for the words \"goods held in stock on the appointed day subject to\", the words \"goods held in stock on the appointed day, within such time and in such manner as may be prescribed, subject to\" shall be substituted and shall be deemed to have been substituted; (d) | in sub-section (5), for the words \"existing law\", the words \"existing law, within such time and in such manner as may be prescribed\" shall be substituted and shall be deemed to have been substituted; (e) | in sub-section (6), for the words \"goods held in stock on the appointed day subject to\", the words \"goods held in stock on the appointed day, within such time and in such manner as may be prescribed, subject to\" shall be substituted and shall be deemed to have been substituted; (f) | in sub-section (7), for the words \"credit under this Act even if\", the words \"credit under this Act, within such time and in such manner as may be prescribed, even if\" shall be substituted and shall be deemed to have been substituted; (g) | in sub-section (8), for the words \"in such manner\", the words \"within such time and in such manner\" shall be substituted and shall be deemed to have been substituted; (h) | in sub-section (9), for the words \"credit can be reclaimed subject to\", the words \"credit can be reclaimed within such time and in such manner as may be prescribed, subject to\" shall be substituted and shall be deemed to have been substituted.","html":"<p><b>Amendment of section 140</b></p><p><b>128. </b>In section 140 of the Central Goods and Services Tax Act, with effect from the 1st day of July, 2017,-</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>a</i>)</td><td></td><td>in sub-section (<i>1</i>), after the words \"existing law\", the words \"within such time and\" shall be inserted and shall be deemed to have been inserted;</td></tr><tr><td>(<i>b</i>)</td><td></td><td>in sub-section (<i>2</i>), after the words \"appointed day\", the words \"within such time and\" shall be inserted and shall be deemed to have been inserted;</td></tr><tr><td>(<i>c</i>)</td><td></td><td>in sub-section (<i>3</i>), for the words \"goods held in stock on the appointed day subject to\", the words \"goods held in stock on the appointed day, within such time and in such manner as may be prescribed, subject to\" shall be substituted and shall be deemed to have been substituted;</td></tr><tr><td>(<i>d</i>)</td><td></td><td>in sub-section (<i>5</i>), for the words \"existing law\", the words \"existing law, within such time and in such manner as may be prescribed\" shall be substituted and shall be deemed to have been substituted;</td></tr><tr><td>(<i>e</i>)</td><td></td><td>in sub-section (<i>6</i>), for the words \"goods held in stock on the appointed day subject to\", the words \"goods held in stock on the appointed day, within such time and in such manner as may be prescribed, subject to\" shall be substituted and shall be deemed to have been substituted;</td></tr><tr><td>(<i>f</i>)</td><td></td><td>in sub-section (<i>7</i>), for the words \"credit under this Act even if\", the words \"credit under this Act, within such time and in such manner as may be prescribed, even if\" shall be substituted and shall be deemed to have been substituted;</td></tr><tr><td>(<i>g</i>)</td><td></td><td>in sub-section (<i>8</i>), for the words \"in such manner\", the words \"within such time and in such manner\" shall be substituted and shall be deemed to have been substituted;</td></tr><tr><td>(<i>h</i>)</td><td></td><td>in sub-section (<i>9</i>), for the words \"credit can be reclaimed subject to\", the words \"credit can be reclaimed within such time and in such manner as may be prescribed, subject to\" shall be substituted and shall be deemed to have been substituted.</td></tr></table></div>","words":338,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2020/section/128/","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."}