President Droupadi Murmu Grants Assent to Central and Integrated GST Amendment Bills, 2023

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.
• A significant amendment introduced by this bill is the exclusion of online money gaming from the definition of “online information and data access or retrieval services.” This alteration recognizes the unique nature of online money gaming in contrast to other forms of online services.

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Published date : 23 Aug 2023 02:02PM