The Integrated Goods and Services Tax (Amendment) Bill, 2023 was introduced in Lok Sabha on 11 August 2023, which amends the ________________________.
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Correct answer: A
Explanation
The correct answer is Option 1 i.e. Integrated Goods and Services Tax (IGST) Act, 2017.
The Integrated Goods and Services Tax (Amendment) Bill, 2023 was introduced in the Lok Sabha on 11 August 2023 to amend the Integrated Goods and Services Tax (IGST) Act, 2017. This amendment aims to simplify tax compliance, improve clarity in cross-border transactions, and address operational issues in the implementation of IGST. By updating provisions related to tax collection, refunds, and inter-state supply of goods and services, the bill seeks to strengthen the GST framework and enhance ease of doing business across India.