eCourtsIndia
IndiaCode Laws
Section157
The Finance Act, 2024 (No. 2)

Insertion of new section 8A

In force As on 07 Oct 2026

Ministry Finance Enacted 16 Aug 2024 Cited by 2 provisions

Section 157 of the Finance Act, 2024 (No. 2) deals with insertion of new section 8A. GOODS AND SERVICES TAX (COMPENSATION TO STATES) Insertion of new section 8A. The Act was enacted on 16 Aug 2024.

GOODS AND SERVICES TAX

(COMPENSATION TO STATES)

Insertion of new section 8A.

157. In the Goods and Services Tax (Compensation to States) Act, 2017 (15 of 2017), after section 8, the following section shall be inserted, namely:—

"8A. Power not to recover cess not levied or short-levied as a result of general practice.—Notwithstanding anything contained in this Act, if the Government is satisfied that—

(a)a practice was, or is, generally prevalent regarding levy of cess (including non-levy thereof) on any supply of goods or services or both; and
(b)such supplies were, or are, liable to,—
(i)cess, in cases where according to the said practice, cess was not, or is not being, levied; or
(ii)a higher amount of cess than what was, or is being, levied, in accordance with the said practice,
the Government may, on the recommendation of the Council, by notification in the Official Gazette, direct that the whole of the cess payable on such supplies, or, as the case may be, the cess in excess of that payable on such supplies, but for the said practice, shall not be required to be paid in respect of the supplies on which the cess was not, or is not being, levied, or was, or is being, short-levied, in accordance with the said practice.".
Section 157, 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. s. 8 Insertion of new section 12AC

Referred to by 2

  1. s. 1 Short title and commencement
  2. s. 103 Amendment of section 157

Questions about Section 157

What does Section 157 of the Finance Act, 2024 (No. 2) deal with?

Section 157 of the Finance Act, 2024 (No. 2) is headed "Insertion of new section 8A". GOODS AND SERVICES TAX (COMPENSATION TO STATES) Insertion of new section 8A.

How do I find court cases under Section 157 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) 157, section 157 Finance Act, 2024 (No. 2), section 157 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 157 of the Finance Act, 2024 (No. 2), and has it changed?

Its own text turns on section 8 (Insertion of new section 12AC), so none of them can safely be read on its own. 2 other provisions in this corpus refer back to it.

When was Section 157 of the Finance Act, 2024 (No. 2) enacted?

Section 157 of the Finance Act, 2024 (No. 2), cited as Finance Act, 2024 (No. 2) 157, 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.