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Finance Bill 2026 receives President's assent
This Tax Alert summarizes the effective date of amendments carried out vide Finance Bill, 2026. The said Bill has received the President’s assent on 30 March 2026 and thus become the Finance Act.
The effective dates for the key amendments are as follows:
- The omission of the place of supply provision for intermediary services under Integrated Goods and Services Tax (IGST) Act, 2017 takes effect from 30 March 2026.
- Amendments concerning post-supply discounts under Central Goods and Services Tax (CGST) Act, 2017, will take effect from a date as may be notified.
- Amendments relating to Customs law have come into force with effect from 30 March 2026, unless a different effective date is specifically provided.
Comments:
The taxpayers providing or receiving cross-border intermediary services need to analyse the tax position for the transitional period.