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of <h1>Finance Act 2019 Amends Section 49 of CGST Act to Allow Tax Transfers via Electronic Cash Ledger</h1> Section 49 of the Central Goods and Services Tax Act has been amended by the Finance (No. 2) Act, 2019, to include new sub-sections (10) and (11). These provisions allow a registered person to transfer amounts such as tax, interest, penalty, or fees from their electronic cash ledger to various tax categories including integrated, central, state, or union territory tax, or cess. This transfer is considered a refund and is deemed deposited in the ledger as per the Act. The amendment took effect on January 1, 2020, as per Notification No. 01/2020.
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