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of <h1>Finance Act 2023 amends Section 16 CGST: New tax payment and supplier transaction obligations clarified.</h1> Section 16 of the Central Goods and Services Tax Act has been amended by the Finance Act, 2023. In sub-section (2), the second proviso now requires that the tax be 'paid by him along with interest payable under section 50' instead of being 'added to his output tax liability, along with interest thereon.' Additionally, in the third proviso, the phrase 'to the supplier' is inserted after 'made by him.' These changes clarify the obligations related to tax payments and supplier transactions under the Act.
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