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of <h1>Finance Bill 2023: Amendments to CGST Act Section 17 Restrict Input Tax Credit for Specific Transactions and CSR Activities.</h1> Clause 130 of the Finance Bill, 2023 proposes amendments to section 17 of the Central Goods and Services Tax Act. It revises the Explanation in sub-section (3) to restrict input tax credit for certain transactions specified in clause (a) of paragraph 8 of Schedule III, incorporating their value into exempt supply. Additionally, it amends sub-section (5) to disallow input tax credit for goods or services used for corporate social responsibility activities as per section 135 of the Companies Act, 2013.
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