President Droupadi Murmu Grants Assent to Central and Integrated GST Amendment Bills, 2023
President Droupadi Murmu has officially granted her assent to two crucial pieces of legislation, namely the Central Goods and Services Tax (Amendment) Bill, 2023, and the Integrated Goods and Services Tax (Amendment) Bill, 2023. Both of these bills, which had recently received approval from the Parliament, have now become law with the President’s endorsement.
The Central Goods and Services Tax (Amendment) Bill, 2023, is designed to introduce amendments to the existing Central Goods and Services Tax Act of 2017. This bill encompasses adjustments to key definitions and provisions to better align with evolving technological and economic landscapes.
The Integrated Goods and Services Tax (Amendment) Bill, 2023, is centered around refining the provisions of the Integrated Goods and Services Tax Act of 2017. This amendment focuses on a specific aspect related to online activities.
These amendments collectively reflect the government’s commitment to addressing contemporary challenges and opportunities in the realm of taxation and regulation. By accommodating the nuances of online activities, these bills contribute to a more comprehensive and up-to-date legislative framework.
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