The notification appoints 1st October 2025 as the date on which clauses (ii) and (iii) of section 121, sections 122 to 124, and sections 126 to 134 of the Finance Act 2025 come into force. These provisions are related to:
- Section 121(ii) – Amendment to CGST Act section 2(69), adds “local fund” / “municipal fund” definitions.
- Section 121(iii) – Inserts clause 2(116A), definition of “unique identification marking”.
- Section 122 – Amendment of section 12, Time of supply for voucher for goods is removed
- Section 123 – Amendment of section 13, Time of supply for voucher for services is removed
- Section 124 – Amendment of section 17(5), Changing to ‘Plant and machinery’, Retrospectively from 1 July 2017, ITC on goods/services used to construct immovable property on own account remains blocked unless the resulting asset qualifies as plant and machinery.
- Section 126 – Amendment of section 34, Amends CGST Act section 34(2) proviso (credit notes)
- Section 127 – Amendment of section 38, ITC auto-generated statement
- Section 128 – Amendment of section 39, Returns
- Section 129 – Amendment of section 107, First appeals
- Section 130 – Amendment of section 112, Appels to Appellate Tribunal
- Section 131 – Insertion of new section 122B, penalty for failure to comply with track and trace mechanism.
- Section 132 – Insertion of new section 148A, track and trace mechanism for certain goods.
- Section 133 – Amendment of Schedule III (neither supply of goods nor services), Insertion of supply of goods warehoused in SEZ/FTWZ before export or to DTA
- Section 134 – No refund of tax collected