Page 61 - GSTL_2nd April 2020_Vol 35_Part 1

2020 ] THE FINANCE ACT, 2020 B5
“(3) A certificate of tax deduction at source shall be issued
in such form and in such manner as may be prescribed.”.
(b) sub-section (4) shall be omitted.”.
125. Amendment of section 109. — In section 109 of the Central Goods
and Services Tax Act, in sub-section (6), -
(a) the words “except for the State of Jammu and Kashmir” shall
be omitted;
(b) the first proviso shall be omitted.
126. Amendment of section 122. — In section 122 of the Central Goods
and Services Tax Act, after sub-section (1), the following sub-section shall be in-
serted, namely :-
“(1A) Any person who retains the benefit of a transaction covered
under clauses (i), (ii), (vii) or clause (ix) of sub-section (1) and at whose
instance such transaction is conducted, shall be liable to a penalty of an
amount equivalent to the tax evaded or input tax credit availed of or
passed on.”.
127. Amendment of section 132. — In section 132 of the Central Goods
and Services Tax Act, in sub-section (1), -
(i) for the words “Whoever commits any of the following offenc-
es”, the words “Whoever commits, or causes to commit and retain the
benefits arising out of, any of the following offences” shall be substitut-
ed;
(ii) for clause (c), the following clause shall be substituted,
namely :-
“(c) avails input tax credit using the invoice or bill re-
ferred to in clause (b) or fraudulently avails input tax credit
without any invoice or bill;”;
(iii) in sub-clause (e), the words “, fraudulently avails input tax
credit” shall be omitted.
128. Amendment of section 140. — In section 140 of the Central Goods
and Services Tax Act, with effect from the 1st day of July, 2017, -
(a) in sub-section (1), after the words “existing law”, the words
“within such time and” shall be inserted and shall be deemed to have
been inserted;
(b) in sub-section (2), after the words “appointed day”, the words
“within such time and” shall be inserted and shall be deemed to have
been inserted;
(c) in sub-section (3), for the words “goods held in stock on the
appointed day subject to”, the words “goods held in stock on the ap-
pointed day, within such time and in such manner as may be prescribed,
subject to” shall be substituted and shall be deemed to have been substi-
tuted;
(d) in sub-section (5), for the words “existing law”, the words “ex-
isting law, within such time and in such manner as may be prescribed”
shall be substituted and shall be deemed to have been substituted;

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