The Central Government has appointed the 1st day of October, 2024, as the date on which the provisions of sections 13 of the Finance Act, 2024 shall come into force. The section provides that where any person, who is engaged in the manufacture of goods in respect of which any special procedure relating to registration of machines has been notified acts in contravention of the said special procedure, he shall, pay a penalty equal to an amount of one lakh rupees for every machine not so registered.
The 1st day of April, 2025 shall be the date on which the provisions of sections 11 and 12 of the Finance Act, 2024 shall come into force. The sections provides the process of registration and collection of tax by input service providers.
