eCourtsIndia
IndiaCode Laws
Section118
The Finance Act, 2024 (No. 2)

Amendment of section 16

In force As on 06 Oct 2026

Ministry Finance Enacted 16 Aug 2024 Cited by 2 provisions

Section 118 of the Finance Act, 2024 (No. 2) deals with amendment of section 16. Amendment of section 16. 118. In section 16 of the Central Goods and Services Tax Act, with effect from the 1st day of July, 2017, after sub-section (4), the following sub-sections shall be inserted, namely:— "(5) Notwithstanding anything contained in sub-section (4), in respect of an invoice or deb The Act was enacted on 16 Aug 2024.

Amendment of section 16.

118. In section 16 of the Central Goods and Services Tax Act, with effect from the 1st day of July, 2017, after sub-section (4), the following sub-sections shall be inserted, namely:—

"(5) Notwithstanding anything contained in sub-section (4), in respect of an invoice or debit note for supply of goods or services or both pertaining to the Financial Years 2017-18, 2018-19, 2019-20 and 2020-21, the registered person shall be entitled to take input tax credit in any return under section 39 which is filed up to the thirtieth day of November, 2021.

(6) Where registration of a registered person is cancelled under section 29 and subsequently the cancellation of registration is revoked by any order, either under section 30 or pursuant to any order made by the Appellate Authority or the Appellate Tribunal or court and where availment of input tax credit in respect of an invoice or debit note was not restricted under sub-section (4) on the date of order of cancellation of registration, the said person shall be entitled to take the input tax credit in respect of such invoice or debit note for supply of goods or services or both, in a return under section 39,—

(i)filed up to thirtieth day of November following the financial year to which such invoice or debit note pertains or furnishing of the relevant annual return, whichever is earlier; or
(ii)for the period from the date of cancellation of registration or the effective date of cancellation of registration, as the case may be, till the date of order of revocation of cancellation of registration, where such return is filed within thirty days from the date of order of revocation of cancellation of registration,

whichever is later.".

Section 118, The Finance Act, 2024 (No. 2).

Cross-references

Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.

This section refers to

  1. Central Goods and Services Tax Act s. 16 Eligibility and conditions for taking input tax credit
  2. s. 16 Amendment of section 44B
  3. s. 29 Amendment of section 111A
  4. s. 30 Amendment of section 112
  5. s. 39 Amendment of section 115QA

Referred to by 2

  1. s. 146 Insertion of new section 128A
  2. s. 150 No refund of tax paid or input tax credit reversed

Questions about Section 118

What does Section 118 of the Finance Act, 2024 (No. 2) deal with?

Section 118 of the Finance Act, 2024 (No. 2) is headed "Amendment of section 16". Amendment of section 16. 118. In section 16 of the Central Goods and Services Tax Act, with effect from the 1st day of July, 2017, after sub-section (4), the following sub-sections shall be inserted, namely:— "(5) Notwithstanding anything contained in sub-section (4), in respect of an invoice or deb

How do I find court cases under Section 118 of the Finance Act, 2024 (No. 2)?

In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Finance Act, 2024 (No. 2) 118, section 118 Finance Act, 2024 (No. 2), section 118 of the Finance Act, 2024 (No. 2). Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.

What should I read with Section 118 of the Finance Act, 2024 (No. 2), and has it changed?

Its own text turns on Central Goods and Services Tax Act 16 (Eligibility and conditions for taking input tax credit), section 16 (Amendment of section 44B), section 29 (Amendment of section 111A), section 30 (Amendment of section 112), and on 1 further provision, so none of them can safely be read on its own. 2 other provisions in this corpus refer back to it.

When was Section 118 of the Finance Act, 2024 (No. 2) enacted?

Section 118 of the Finance Act, 2024 (No. 2), cited as Finance Act, 2024 (No. 2) 118, was enacted on 16 Aug 2024. It is in force as at the date shown on this page.

Other sections of this Act

Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. 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. This page is not a substitute for legal advice.