The Central Goods and Services Tax (Second Amendment) Bill, 2023 seeks to amend the Central Goods and Services Tax Act, 2017…reports Asian Lite News
A bill was introduced in the Lok Sabha that provides for giving immediate effect for a limited period to provisions in bills relating to the imposition or increase of duties of customs or excise, with or without change in tariff classification.
The Provisional Collection of Taxes Bill, 2023, was introduced in Lok Sabha by Finance Minister Nirmala Sitharaman.
The Bill also provides for the repeal of the Provisional Collection of Taxes Act, 1931.
Sitharaman also introduced a bill to align provisions of the Central Goods and Services Tax Act with the Tribunal Reforms Act to initiate the administrative process for operationalisation of the Goods and Services Tax Appellate Tribunals.
The Central Goods and Services Tax (Second Amendment) Bill, 2023 seeks to amend the Central Goods and Services Tax Act, 2017.
According to the statement of objects and reasons of the Bill, Section 109 of the Central Goods and Services Tax Act, 2017 (12 of 2017) provides for Constitution of Goods and Services Tax Appellate Tribunal, which is the second appellate authority within the Goods and Services Tax framework for hearing appeals against the orders passed by the Appellate Authority under the Central Goods and Services Tax Act, 2017 and the State Goods and Services Tax Acts. (ANI)