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of <h1>Finance Act 2023 Amends Section 138 of CGST Act: Changes to Offense Coverage and Penalty Structure</h1> Section 138 of the Central Goods and Services Tax Act has been amended by the Finance Act, 2023. In subsection (1), clause (a) has been replaced to specify that a person who has compounded once for certain offenses is covered, while clause (b) has been removed, and clause (c) has been revised to address offenses under clause (b) of section 132(1). Clause (e) is also omitted. In subsection (2), the penalty structure is altered to a minimum of 25% of the tax involved and a maximum of 100%, replacing the previous monetary thresholds.
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