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of <h1>Finance Bill 2023 amends CGST Act Section 138: Invoice fraud exclusion, revised compounding limits at 25-100% of tax.</h1> Clause 140 of the Finance Bill, 2023, proposes amendments to section 138 of the Central Goods and Services Tax Act. It revises sub-section (1) by modifying specific clauses, including substituting clause (a) and (c) and omitting clauses (b) and (e). These changes exclude individuals involved in issuing invoices without actual supply from compounding options. Additionally, sub-section (2) is amended to adjust the compounding amount, setting it at 25% of the tax involved, with a maximum not exceeding 100% of the tax, thereby reducing both the minimum and maximum compounding amounts.
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