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Expected Changes in GST; Union Budget 2023-24 in the Finance Bill 2023

Bimal Jain , Last updated: 31 January 2023  

1. Raising the minimum threshold for launching prosecution under GST from Rs. One Crore to Rs. Two Crores, except for the offence of issuance of invoices without supply of goods or services or both;

2. Decriminalize certain offences specified u/s 132(1) (g), (j) and (k) of CGST Act, 2017, viz.-

  • obstruction or preventing any officer in discharge of his duties;
  • deliberate tempering of material evidence;
  • failure to supply the information.
Expected Changes in GST  Union Budget 2023-24 in the Finance Bill 2023

3. S. 138: Reduce the compounding amount from the present range of 50% to 150% to 25% to 100%;

4. Facilitate to make Intra-state supply of Goods by Un-registeredSuppliers/ Composition Taxpayersthrough e-commerce operator, will be implemented w.e.f 01.10.2023.

5. No GST on Third Country Exports, HSS, In Bond Sale - Schedule III

Paras 7, 8(a) and 8(b) were inserted in Schedule III of CGST Act, 2017 with effect from 01.02.2019, will be amended to apply retrospectively from 01.07.2017.

However, no refund of tax paid will be available in cases where any tax has already been paid w.r.t such transactions/ activities during the period 01.07.2017 to 31.01.2019.

6. Dispute of GST Credit on POS - Freight Forwarder - 01-10-2022 - Ocean/ Air Freight - S. 12(8) of IGST Act:


GST credit would be available even though POS is outside India as per clarification issued vide Circular No. 184/16/2022 - 27-12-2022.

7. Paving towards streamlining of GST Statements/ Returns - 3 Yrs time limit to file statement/ returns

GSTR-1, GSTR-9, GSTR 9/ 9C and GSTR-8 u/s 37, 39, 44 and 52 of CGST Act, 2017 to be amended to restrict filing of returns/ statements to a maximum period of three years from the due date of filing of the relevant return/statement.


8. Amendment in definition of "non-taxable online recipient" under section 2(16) of IGST Act, 2017 and definition of "Online Information and Database Access or Retrieval Services (OIDAR)" under section 2(17) of IGST Act, 2017 to include training or coaching through online mode so as to reduce interpretation issues and litigation on taxation of OIDAR Services.

9. Amnesty Scheme may be announced for procedural non-compliances viz. Registration, Revocation for cancellation of GST Registration, GST Statement and Return filing.

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Bimal Jain
Category Union Budget   Report

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