{"act":{"id":"finance-act-2025","short_title":"The Finance Act, 2025","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2025-2026.","act_number":"7","act_year":2025,"enact_date":"2025-08-16","enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":153,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2025/"},"unit":"section","section":{"number":"121","heading":"Amendment of section 2","text":"Central Goods and Services Tax Amendment of section 2. 121.  In the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereinafter referred as the Central Goods and Services Tax Act), in section 2,— (i) | in clause (61), after the word and figure \"section 9\", the words, brackets and figures \"of this Act or under sub-section (3) or sub-section (4) of section 5 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017)\" shall be inserted with effect from the 1st day of April, 2025; (ii) | in clause (69),— (a) | in sub-clause (c), after the words \"management of a municipal\", the word \"fund\" shall be inserted; (b) | after sub-clause (c), the following Explanation shall be inserted, namely:— 'Explanation.—For the purposes of this sub-clause— (a) | \"local fund\" means any fund under the control or management of an authority of a local self-government established for discharging civic functions in relation to a Panchayat area and vested by law with the powers to levy, collect and appropriate any tax, duty, toll, cess or fee, by whatever name called; (b) | \"municipal fund\" means any fund under the control or management of an authority of a local self-government established for discharging civic functions in relation to a Metropolitan area or Municipal area and vested by law with the powers to levy, collect and appropriate any tax, duty, toll, cess or fee, by whatever name called;'; (iii) | after clause (116), the following clause shall be inserted, namely:— '(116A) \"unique identification marking\" means the unique identification marking referred to in clause (b) of sub-section (2) of section 148A and includes a digital stamp, digital mark or any other similar marking, which is unique, secure and non-removable;'.","html":"<p><i>Central Goods and Services Tax</i></p><p><b>Amendment of section 2.</b></p><p><b>121. </b> In the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereinafter referred as the Central Goods and Services Tax Act), in section 2,—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>i</i>)</td><td></td><td>in clause (<i>61</i>), after the word and figure \"section 9\", the words, brackets and figures \"of this Act or under sub-section (3) or sub-section (4) of section 5 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017)\" shall be inserted with effect from the 1st day of April, 2025;</td></tr><tr><td>(<i>ii</i>)</td><td></td><td>in clause (<i>69</i>),—</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>a</i>)</td><td></td><td>in sub-clause (<i>c</i>), after the words \"management of a municipal\", the word \"fund\" shall be inserted;</td></tr><tr><td>(<i>b</i>)</td><td></td><td>after sub-clause (<i>c</i>), the following <i>Explanation </i>shall be inserted, namely:—</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td></td><td></td><td>'<i>Explanation</i>.—For the purposes of this sub-clause—</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>a</i>)</td><td></td><td>\"local fund\" means any fund under the control or management of an authority of a local self-government established for discharging civic functions in relation to a Panchayat area and vested by law with the powers to levy, collect and appropriate any tax, duty, toll, cess or fee, by whatever name called;</td></tr><tr><td>(<i>b</i>)</td><td></td><td>\"municipal fund\" means any fund under the control or management of an authority of a local self-government established for discharging civic functions in relation to a Metropolitan area or Municipal area and vested by law with the powers to levy, collect and appropriate any tax, duty, toll, cess or fee, by whatever name called;';</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>iii</i>)</td><td></td><td>after clause (<i>116</i>), the following clause shall be inserted, namely:—</td></tr><tr><td></td><td></td><td>'(<i>116A</i>) \"unique identification marking\" means the unique identification marking referred to in clause (<i>b</i>) of sub-section (2) of section 148A and includes a digital stamp, digital mark or any other similar marking, which is unique, secure and non-removable;'.</td></tr></table></div>","words":289,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2025/section/121/","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."}