The Integrated Goods and Services Tax (Amendment) Bill, 2023 amends the Integrated Goods and Services Tax (IGST) Act______________.
IGST Act Amendment Bill 2023 Context
The question asks about the specific year of the Integrated Goods and Services Tax (IGST) Act that was subject to amendment by the Integrated Goods and Services Tax (Amendment) Bill, 2023.
Identifying the IGST Act Year
The Goods and Services Tax (GST) regime in India was rolled out with multiple key legislations. The Integrated Goods and Services Tax (IGST) Act is one of the primary laws governing the supply of goods and services across different states.
The IGST Act, which deals with the levy and collection of tax on inter-state supply of goods or services, was originally enacted in the year 2017. This was a foundational year for the implementation of the GST in India.
Therefore, the Integrated Goods and Services Tax (Amendment) Bill, 2023, serves to modify the provisions of the original IGST Act of 2017.
Key Information Summary
- Amendment Bill Year: 2023
- Act Being Amended: Integrated Goods and Services Tax (IGST) Act
- Year of the IGST Act: 2017
The amendment bill proposes changes to the existing IGST Act, 2017, to adapt to evolving economic needs or to clarify certain provisions. The correct option identifies the original enactment year of the IGST Act being amended.
Important Questions from Goods and Services Tax (GST)
Which of the following is an Indirect Tax in India?
Goods and Service Tax is an example of ________.
Which of the following is an example of revenue receipt of the government?
The Goods and Services Tax, Act commenced from ______.
What kind of a tax is GST?
