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Taxation Central Ministry of Finance Integrated Goods and Services Tax Act, 2017

Integrated Goods and Services Tax (Amendment) Act, 2023

18-Aug-2023 | CG-DL-E-18082023-248184

Ministry of Law and Justice has introduced the Integrated Goods and Services Tax (Amendment) Act, 2023, amending provisions under the Integrated Goods and Services Tax Act, 2017. Key Highlights of the Amendments: 1. Definition of Online Gaming: In section 2 of the Integrated Goods and Services Tax Act, 2017, the definition of online gaming has been modified. The sub-clause (vii) has been substituted to exclude online money gaming, as defined in clause (80B) of section 2 of the Central Goods and Services Tax Act, 2017. 2. Tax on Specified Goods: Section 5 of the principal Act has been amended. In subsection (1), a proviso has been added to stipulate that integrated tax on goods, other than those as notified by the Government based on the Council's recommendations, shall be levied. 3. Special Provision for Online Money Gaming: A new section, 14A, has been inserted. This section pertains to suppliers of online money gaming not located in the taxable territory. Such suppliers, for supplies of online money gaming to individuals in the taxable territory, are liable to pay integrated tax. These suppliers should obtain a single registration under the Simplified Registration Scheme. If any person in the taxable territory represents the supplier, they need to get registered and pay the integrated tax on behalf of the supplier. The effective date of these amendments will be notified by the Central Government through an official Gazette notification.

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