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Which of the following Ministers introduced the Central Goods and Services Tax (Amendment) Bill 2023 and the Integrated Goods and Services Tax (Amendment) Bill 2023 in the Lok Sabha?
Nirmala Sitharaman
Harpal Singh
Bikram Keshari Arukha
Manohar Lal Khattar
Nirmala Sitharaman
Union Finance Minister Nirmala Sitharaman introduced the CGST and IGST Amendment Bills in the Lok Sabha in 2023.
The Central Goods and Services Tax (Amendment) Bill 2023 and the Integrated Goods and Services Tax (Amendment) Bill 2023 were introduced to align existing tax laws with the decisions taken by the GST Council. These amendments were primarily focused on clarifying the taxation of online gaming, casinos, and horse racing. The move aimed to remove ambiguity regarding the valuation of supplies and to ensure a uniform tax rate of 28 percent on the full face value of bets.
The GST Council is a constitutional body established under Article 279A of the Indian Constitution, headed by the Union Finance Minister. It is empowered to make recommendations to the Union and State governments on issues related to the implementation of the Goods and Services Tax.
The 2023 amendments specifically targeted the taxation of online gaming, horse racing, and casinos.
The amendments confirmed a 28 percent GST rate on the full face value of bets.
The GST Council is chaired by the Union Finance Minister, currently Nirmala Sitharaman.
These bills facilitate the legislative implementation of the 50th and 51st GST Council meeting decisions.
A is correct тАФ Finance Minister Nirmala Sitharaman introduced the CGST and IGST Amendment Bills in 2023 to bring clarity to the taxation of online gaming and related sectors.
Remember that any major tax law amendment or bill introduction related to GST in the Lok Sabha is almost always presented by the Union Finance Minister, as the Finance Minister serves as the Chairperson of the GST Council.
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