Clause 112 - Amendment of section 54. - Finance Bill, 2022

Amendment of section 54. 112. In section 54 of the Central Goods and Services Tax Act, (a) in sub-section (1), in the proviso, for the words and figures the return furnished under section 39 in such , the words such form and shall be substituted; (b) in sub-section (2), for the words six months , the words two years shall be substituted; (c) in sub-section (10), the words, brackets and figure under sub-section (3) shall be omitted; (d) in the Explanation, in clause (2), after sub-clause (b), the following sub-clause shall be inserted, namely: (ba) in case of zero-rated supply of goods or services or both to a Special Economic Zone developer or a Special Economic Zone unit where a refund of tax paid is available in respect of such supplies themselves, or as the case may be, the inputs or input services used in such supplies, the due date for furnishing of return under section 39 in respect of such supplies; .