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New Tax Bills

New Tax Bills mind map
Central Goods and Services Tax (Second Amendment) Bill, 2023
December 2023 News
Introduced in Lok Sabha
Date
December 13, 2023
Passed in Lok Sabha
Date
December 19, 2023
Ministry
Finance
Background and Objectives
Need for GST Appellate Tribunal
Overburdened High Courts
Alignment with Tribunal Reforms Act, 2021
Provisions
Amendment of Section 110
Advocate Eligibility
Ten years of experience
Experience in indirect taxes
Age Limit
Minimum 50 years for members
Age Limit Changes
President of Tribunal
From 67 to 70 years
Members
From 65 to 67 years
Section 109
Constitution of GST Appellate Tribunal
Second appellate authority within GST
Notification 28/2023-Central Tax
Date
July 31, 2023
Operationalisation of Tribunals
Statement by Nirmala Sitharaman
Finance Minister
Urgency of alignment with Tribunal Reforms Act
Provisional Collection of Taxes Bill, 2023
December 2023 News
Introduced in Lok Sabha
Date
December 13, 2023
Passed in Lok Sabha
Date
December 19, 2023
Ministry
Finance
Background and Objectives
Immediate effect for customs and excise duties
Repeal of 1931 Act
Provisions
Short Title and Definition
“Provisional Collection of Taxes Act”
Defined “declared provision”
Power to Make Declaration
Section 3
Central Government empowered
Immediate effect for customs or excise duties
Effect and Duration
Legal force post introduction
Ceases under certain conditions
Refunds in Certain Cases
Scenarios outlined for refunds
Repeal of Previous Act
Provisional Collection of Taxes Act, 1931
Financial Memorandum
No expenditure from Consolidated Fund of India

The Central Goods and Services Tax (Second Amendment) Bill, 2023, and the Provisional Collection of Taxes Bill, 2023, are significant legislative developments introduced in December 2023. The former amends the Central Goods and Services Tax Act, 2017, primarily to establish a Goods and Services Tax Appellate Tribunal, aligning the Act with the Tribunal Reforms Act of 2021. This tribunal aims to relieve the burden on High Courts and provide a second appellate authority within the GST framework. Key changes include modifications in the qualifications for tribunal members and adjustments to age limits. The latter bill repeals the Provisional Collection of Taxes Act, 1931, and focuses on providing immediate effect to certain customs and excise duty provisions. It ensures fiscal responsibility by not involving expenditure from the Consolidated Fund of India. Both bills reflect the Indian government’s efforts to streamline tax legislation and administration.

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