Strategic Implementation Date:
The Central Government, under clause (b) of sub-section (2) of section 1 of the Finance Act, 2021 (13 of 2021), designates October 1, 2023, as the commencement date for section 123.
Focused Legal Authority:
Empowered by the Finance Act, 2021, this decision aligns with legal provisions and procedural frameworks.
Alok Kumar's Decree:
Alok Kumar, in his capacity as Director, issues the directive, emphasizing the importance of this specific provision coming into effect.
Gazette of India Announcement:
The decision is slated for publication in the Gazette of India, signaling its official and authoritative status.
Navigating Financial Implications:
Stakeholders and businesses should gear up for compliance with section 123, recognizing its financial implications.
Clarity for Entities:
This announcement provides clarity to entities affected by section 123, offering a clear timeline for readiness.
Smooth Transition Anticipated:
With a well-defined activation date, businesses can anticipate a smoother transition into the operationalization of section 123.