Which of the following statements is correct regarding 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.

Correct option is B

The correct answer is (b) Both I and II.
Explanation:
· Statement I is correct. The Central Goods and Services Tax (Amendment) Bill, 2023 was introduced in Lok Sabha in August 2023. This bill sought to bring several changes to the existing Goods and Services Tax (GST) framework in India.
· Statement II is also correct. The bill amends the Central Goods and Services Tax (CGST) Act, 2017, which is the core law governing the levy of GST in India. The amendments aim to streamline the GST structure, address ambiguities, and make the system more efficient.
Information Booster:
Key Features of the Central Goods and Services Tax (Amendment) Bill, 2023:
· Introduces modifications to certain provisions under the CGST Act, 2017.
· Aims to simplify compliance requirements for taxpayers.
· Focuses on improving the GST dispute resolution mechanism and clarifying certain tax provisions.
GST Act, 2017:
· The CGST Act was implemented on July 1, 2017, as a part of the Goods and Services Tax regime in India.
· It unifies various central taxes like excise duty, service tax, and others into one indirect tax.