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Parliament passes Central Goods and Services Tax (Amendment) Bill, 2023 and Integrated Goods and Services Tax (Amendment) Bill, 2023

in National August 11, 2023 Comments Off on Parliament passes Central Goods and Services Tax (Amendment) Bill, 2023 and Integrated Goods and Services Tax (Amendment) Bill, 2023 532 Views

Newdelhi:11/8/823:Parliament today passed the Central Goods and Services Tax (Amendment) Bill, 2023 and Integrated Goods and Services Tax (Amendment) Bill, 2023. The Lok Sabha passed the bills without discussion with voice vote. Later, the Rajya Sabha also returned the Bills with voice vote. Finance Minister Nirmala Sitharaman introduced these bills.

The Central Goods and Services Tax (Amendment) Bill, 2023 seeks to amend the Central Goods and Services Tax Act 2017 while, the Integrated Goods and Services Tax (Amendment) Bill, 2023 seeks to amend the Integrated Goods and Services Tax Act 2017. The Central Goods and Services Tax (Amendment) Bill, 2023 seeks to define the expressions of online gaming, online money gaming and virtual digital assets. According to the provisions of the Bill, online gaming means offering of a game on the internet or an electronic network and includes money gaming. The Bill states that online money gaming means online gaming in which players pay or deposit money including virtual digital assets in expectation of winning money.

The Integrated Goods and Services Tax (Amendment) Bill, 2023 seeks to amend the Integrated Goods and Services Tax Act 2017 to exclude online money gaming from the definition of online information and data access or retrieval services. The GST Council in its 50th meeting held last month, recommended to levy 28 percent tax on full face value of bets in Casinos, Horse racing and Online gaming.

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.
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