{"act":{"id":"finance-act-2021","short_title":"The Finance Act, 2021","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2021-2022.","act_number":null,"act_year":2021,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":180,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2021/"},"unit":"section","section":{"number":"108","heading":"Amendment of section 7","text":"Central Goods and Services Tax Amendment of section 7. 108. In the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereinafter referred to as the Central Goods and Services Tax Act), in section 7, in sub-section (1), after clause (a), the following clause shall be inserted and shall be deemed to have been inserted with effect from the 1st day of July, 2017, namely:–– \"(aa) the activities or transactions, by a person, other than an individual, to its members or constituents or vice-versa, for cash, deferred payment or other valuable consideration. Explanation.––For the purposes of this clause, it is hereby clarified that, notwithstanding anything contained in any other law for the time being in force or any judgment, decree or order of any Court, tribunal or authority, the person and its members or constituents shall be deemed to be two separate persons and the supply of activities or transactions inter se shall be deemed to take place from one such person to another;\".","html":"<p><i>Central Goods and Services Tax</i></p><p><b>Amendment of section 7.</b></p><p><b>108. </b>In the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereinafter referred to as the Central Goods and Services Tax Act), in section 7, in sub-section (<i>1</i>), after clause (<i>a</i>), the following clause shall be inserted and shall be deemed to have been inserted with effect from the 1st day of July, 2017, namely:––</p><p>\"(<i>aa</i>) the activities or transactions, by a person, other than an individual, to its members or constituents or <i>vice-versa</i>, for cash, deferred payment or other valuable consideration.</p><p><i>Explanation</i>.––For the purposes of this clause, it is hereby clarified that, notwithstanding anything contained in any other law for the time being in force or any judgment, decree or order of any Court, tribunal or authority, the person and its members or constituents shall be deemed to be two separate persons and the supply of activities or transactions <i>inter se</i> shall be deemed to take place from one such person to another;\".</p>","words":165,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2021/section/108/","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."}