The Central Board of Indirect Taxes and Customs (CBIC) vide its Notification No 29/2021 – Central Tax dated 30th July 2021 appoints the 01st August 2021 as the date on which the provisions of sections 110 and 111 of the Finance Act, 2021 shall come into force.
Section 110 of the Finance Act, 2021 omitted section 35 of the Central Goods and Services Tax Act, sub-section (5) which deals with the audit by a chartered accountant or a cost accountant and submission of a copy of the audited annual accounts, the reconciliation statement under sub-section (2) of section 44 and such other documents.
Section 111 of the Finance Act, 2021 seeks to amend section 44 of the Central Goods and Services Tax Act. The section shall be substituted, namely “Every registered person, other than an Input Service Distributor, a person paying tax under section 51 or section 52, a casual taxable person and a non-resident taxable person shall furnish an annual return which may include a self-certified reconciliation statement, reconciling the value of supplies declared in the return furnished for the financial year, with the audited annual financial statement for every financial year electronically, within such time and in such form and in such manner as may be prescribed.
Government of India
Ministry of Finance
(Department of Revenue)
Central Board of Indirect Taxes and Customs
Notification No. 29/2021 – Central Tax
New Delhi, the 30th July 2021
S.O. ….. (E). – In exercise of the powers conferred by clause (b) of sub-section (2) of section 1 of the Finance Act, 2021 (13 of 2021), the Central Government hereby appoints the 1st day of August, 2021, as the date on which the provisions of sections 110 and 111 of the said Act shall come into force.
[F. No. CBIC-20001/5/2021-GST]
(Rajeev Ranjan)
Under Secretary to the Government of Indi
