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📒 Gist of further amendments relating to Indirect taxes proposed in Finance Bill, 2023
1. The amendments relating to Customs and Goods and Services Tax (GST) shall come into effect from the date to be appointed by the Central Government through notification
>> a Thread>> 👇 twitter.com/i/web/status/1…
1. The amendments relating to Customs and Goods and Services Tax (GST) shall come into effect from the date to be appointed by the Central Government through notification
>> a Thread>> 👇 twitter.com/i/web/status/1…
2. The deferment of duties in respect of goods imported under Manufacture and Other Operations in Warehouse Regulations (MOOWR) is now being restricted to duties other than IGST & compensation cess. In other words, IGST and Cess are payable on import of goods under MOOWR
3. Provisions of compulsory registration will not apply only where the person is exempted from obtaining registration through a notification issued under section 23(2) of Central Goods and Services Tax Act, 2017. #GST #Budget2023
Basis the recommendation of the GST Council,
i. Provisions relating to GST Appellate Tribunal (GSTAT) are being amended
ii. Provision for determining place of supply of good transportation service, where the supplier or the recipient is located outside India, is being omitted
i. Provisions relating to GST Appellate Tribunal (GSTAT) are being amended
ii. Provision for determining place of supply of good transportation service, where the supplier or the recipient is located outside India, is being omitted
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