GST schedule – OnlineTaxUpdate

Section 159 of the Finance Act, 2023, has been notified by the CBIC w.e.f. 1st October 2023. However, after reading the bare text of the section, it is surprising how the Legislature drafted the law, making it challenging to figure out the rationale behind that section. Section 159 of the Finance Act 2023 is reproduced below.

GST Article

Not necessary that every activity between related parties is a supply under GST

byAdmin01/12/202201/12/2022

Despite repeated reiterations by the Courts or the CBIC, not only the department executives but also the taxpayers somewhere forms an opinion that any activity undertaken between related parties is definitely as supply irrespective of the nature and purpose with…

Tag: GST schedule

Section 159 of the Finance Act 2023: Creating undue hardship for tax-compliant and honest taxpayers