Section 2(117) of CGST Act: Meaning of “Valid Return”
As per Section 2(117) of the Central Goods and Services Tax (CGST) Act, 2017, unless the context otherwise requires, the term “valid return” has been defined, as under:
Section 2(117) of CGST Act: Definition of “Valid Return” (CHAPTER I – PRELIMINARY)
“valid return” means a return furnished under sub-section (1) of section 39 on which self-assessed tax has been paid in full.
The Central Goods and Services Tax (CGST) Act, 2017 was notified by Govt. on 12 April, 2017 and CBIC has notified the commencement date for various Sections/ Provisions thereof from time to time. Subsequently, Govt. has notified the Central Goods and Services Tax (CGST) (Amendment) Act, 2018 on 30 Aug. 2018. However, commencement date of amended provisions of various Sections is to be separately notified by CBIC, except where specifically mentioned in the CGST Amendment Act, 2018 itself.