Which of the following statements is correct regarding the Central Goods and Services Tax (Amendment) Bill, 2023?
I. It was introduced in Lok Sabha in August 2023.
II. It amends the Central Goods and Services Tax (CGST) Act, 2017.
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. Both I and II.
The correct statements regarding the Central Goods and Services Tax (Amendment) Bill, 2023 are:
I. It was introduced in Lok Sabha in August 2023.
II. It amends the Central Goods and Services Tax (CGST) Act, 2017.
The Bill aims to bring certain amendments to simplify and improve the functioning of the Goods and Services Tax system in India. It seeks to address issues related to compliance, and tax administration, and strengthen the overall GST framework.