Section 40 of the CGST Act as amended by the Finance Act 2023
Note: Section 40 of the CGST Act is amended retrospectively by Finance Act 2023 with retrospective effect from 1st July 2017. The amended portion is depicted with a different color.
Section 40 of CGST Act provide for the first return in GST. Section 37,section 38 and section 39 provide for GSTR 1,2,3 respectively. GSTR-2 is the return of outward supplies. GSTR-2 is return for outward supplies. GSTR 3 is the return compiling all supplies based on data in GSTR-1 and GSTR-2.
Text On Section:
“Every registered person who has made outward supplies in the period between the date on which he became liable to registration till the date on which registration has been granted shall declare the same in the first return furnished by him after grant of registration.”
(As given in the CGST Act)
Chart of the Section: