The Central Board of Indirect Taxes and Customs (CBIC) on 30.08.2024, through a tweet has announced that the provisions of the Finance (No.2) Act, 2024, related to Goods and Services Tax (GST) will not come into effect until after the 54th GST Council Meeting. The key provisions awaiting implementation include the GST Amnesty Scheme and the relief under Section 16(4).

The CBIC clarified that the Central Government will issue notifications to enforce these provisions based on the GST Council's recommendations. The states are required to amend their State GST (SGST) Acts to align with the changes, ensuring uniformity across the country. he 54th GST Council Meeting, tentatively scheduled for September 9, 2024, will address these issues and make necessary recommendations.

Businesses and taxpayers are advised to stay informed about the developments from the upcoming GST Council Meeting, which will provide further details on the implementation of these GST reforms.