# GST Changes Applicable From 01.01.2021: Schedule II, CGST Act, 2017 Only to Classify Supply - 29.12.2020

Finance Act, 2020 has made a retrospective amendment effective from 01.07.2017 to the effect that the aspect of presence/absence of consideration will be dealt by Schedule I of the Central Goods and Services Act, 2017 only and Schedule II shall merely classify the said transaction once it is established that it is a supply.

Tags : Finance Act 2020 Central Goods and Services Act 2017 Schedule II

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