Question
Download Solution PDFWhich of the following statements is correct regarding Central Goods and Services Tax (Amendment) Bill, 2023?
I. It was introduced in Lok Sabha in August, 2023.
II. It amends the Central Goods and Services Tax (CGST) Act, 2017.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFKey Points
- Both I and II are correct statements regarding the Central Goods and Services Tax (Amendment) Bill, 2023.
- The Bill was introduced in Lok Sabha in August, 2023.
- It seeks to amend the Central Goods and Services Tax (CGST) Act, 2017.
- The amendments are aimed at addressing various issues and improving the implementation of the CGST Act.
Additional Information
- The Central Goods and Services Tax (CGST) Act, 2017 was enacted to make provisions for levy and collection of tax on intra-state supply of goods or services by the central government.
- The GST is a comprehensive, multi-stage, destination-based tax that is levied on every value addition.
- The amendments to the CGST Act are periodically made to address operational issues and to bring clarity on various provisions.
- The GST Council is responsible for making recommendations to the Union and the States on important issues related to GST.
Last updated on Jul 8, 2025
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