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TMI BlogAMENDMENTS IN THE CGST ACT, 2017 and IGST Act, 2017X X X X Extracts X X X X X X X X Extracts X X X X ..... Union territories with legislature. Amendments carried out in the Finance Bill, 2023, vide clause 142 will come into effect retrospectively from 1st July, 2017. I. AMENDMENTS IN THE CGST ACT, 2017 : S. No. Amendment Clause of the Finance Bill, 2023 1. Clause (d) of sub-section (2) and Clause (c) of sub-section (2A) in section 10 of the CGST Act is being amended so as to remove the restriction imposed on registered persons engaged in supplying goods through electronic commerce operators from opting to pay tax under the Composition Levy. [128] 2. Second and third provisos to sub-section (2) of sec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on for a tax period can be furnished by a registered person. Further, it also seeks to provide an enabling provision for extension of the said time limit, subject to certain conditions and restrictions, for a registered person or a class of registered persons. [132] 6. A new sub-section (11) in section 39 of the CGST Act is being inserted so as to provide a time limit upto which the return for a tax period can be furnished by a registered person. Further, it also seeks to provide an enabling provision for extension of the said time limit, subject to certain conditions and restrictions, for a registered person or a class of registered persons. [133] 7. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... od of delay for calculation of interest on delayed refunds. [137] 11. A new sub-section (1B) in section 122 of the CGST Act is being inserted so as to provide for penal provisions applicable to Electronic Commerce Operators in case of contravention of provisions relating to supplies of goods made through them by unregistered persons or composition taxpayers. [138] 12. Sub-section (1) of section 132 of the CGST Act is being amended so as to decriminalize offences specified in clause (g), (j) and (k) of the said sub-section and to increase the monetary threshold for launching prosecution for the offences under the said Act from one hundre ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... from 01st July, 2017, so as to treat the activities/ transactions mentioned in the said paragraphs as neither supply of goods nor supply of services. It is also being clarified that where the tax has already been paid in respect of such transactions/ activities during the period from 01st July, 2017 to 31st January, 2019, no refund of such tax paid shall be available. [142] II. AMENDMENTS IN THE IGST ACT, 2017: S. No. Amendment Clause of the Finance Bill, 2023 1. Clause (16) of section 2 of the IGST Act is being amended so as to revise the definition of non-taxable online recipient by removing the condition of receipt ..... X X X X Extracts X X X X X X X X Extracts X X X X
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