Implementation of Finance Act, 2021: Key Details

Commencement Date: The Central Government activates section 112 of the Finance Act, 2021.

Effective Date: Provisions of section 112 come into force from June 1, 2021.

Legislative Authority: Action taken under sub-section (2) of section 1 of the Finance Act, 2021.

Government Officer: Under Secretary to the Government of India, Rajeev Ranjan, issues the order.

Legal Reference: The Finance Act, 2021, marked as 13 of 2021, empowers this decision.

Notification Type: S.O. (E.) issued to formally announce the activation of section 112.

Official Gazette Announcement: Published in the Official Gazette, this order holds legal significance.

Government sets June 1, 2021, as the operational date for section 112 of the Finance Act, 2021, signifying a significant step in financial regulations.