{"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":"124","heading":"Amendment of section 17","text":"Amendment of section 17. 124.  In section 17 of the Central Goods and Services Tax Act, in sub-section (5), in clause (d),— (i) | for the words \"plant or machinery\", the words \"plant and machinery\" shall be substituted and shall be deemed to have been substituted with effect from the 1st day of July, 2017; (ii) | the Explanation shall be numbered as Explanation 1 thereof, and after Explanation 1 as so numbered, the following Explanation shall be inserted, namely:— 'Explanation 2.—For the purposes of clause (d), it is hereby clarified that notwithstanding anything to the contrary contained in any judgment, decree or order of any court, tribunal, or other authority, any reference to \"plant or machinery\" shall be construed and shall always be deemed to have been construed as a reference to \"plant and machinery\";'.","html":"<p><b>Amendment of section 17.</b></p><p><b>124. </b> In section 17 of the Central Goods and Services Tax Act, in sub-section (5), in clause (<i>d</i>),—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>i</i>)</td><td></td><td>for the words \"plant or machinery\", the words \"plant and machinery\" shall be substituted and shall be deemed to have been substituted with effect from the 1st day of July, 2017;</td></tr><tr><td>(<i>ii</i>)</td><td></td><td>the <i>Explanation </i>shall be numbered as <i>Explanation 1</i> thereof, and after <i>Explanation 1</i> as so numbered, the following <i>Explanation </i>shall be inserted, namely:—</td></tr><tr><td></td><td></td><td>'<i>Explanation 2</i>.—For the purposes of clause (<i>d</i>), it is hereby clarified that notwithstanding anything to the contrary contained in any judgment, decree or order of any court, tribunal, or other authority, any reference to \"plant or machinery\" shall be construed and shall always be deemed to have been construed as a reference to \"plant and machinery\";'.</td></tr></table></div>","words":136,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2025/section/124/","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."}