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<h1>Finance Act Sections 110(c) and 111 Implemented: New Rules on Cash Ledger Transfers & ITC Interest Effective July 5, 2022.</h1> The Central Government has designated July 5, 2022, as the effective date for implementing clause (c) of section 110 and section 111 of the Finance Act, 2022. This notification addresses the cross-transfer of balances in the cash ledger and interest on wrongly availed and utilized Input Tax Credit (ITC) under the Central Goods and Services Tax (CGST). The notification was issued by the Ministry of Finance, Department of Revenue, Central Board of Indirect Taxes and Customs, under Notification No. 09/2022-Central Tax.