CA Rakesh Ishi
(Working at Private Company)
(8202 Points)
Replied 20 March 2023
The omission of sections 42, 43 and 43A of the Central Goods and Services Tax (CGST) Act, 2017, was made through the Finance Act, 2022. As per the Finance Act, 2022, the omission of these sections is effective from the date of its enactment, which is March 28, 2022.
Therefore, the omission of sections 42, 43 and 43A of the CGST Act, 2017, is prospective in nature, and it will apply from March 28, 2022, onwards. This means that any actions taken or transactions made prior to this date will continue to be governed by the provisions of the CGST Act, 2017, including sections 42, 43, and 43A.
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