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of <h1>Finance Bill 2024: New Section 8A Empowers Govt to Waive Uncollected Union Territory GST Due to Common Practices.</h1> Clause 152 of the Finance (No. 2) Bill, 2024, proposes the addition of section 8A to the Union Territory Goods and Services Tax Act. This section grants the Government authority to refrain from recovering Goods and Services Tax not levied or short-levied due to a generally prevalent practice. If the Government, with the Council's recommendation, determines that such practices led to non-levy or short-levy of Union territory tax, it may issue a notification in the Official Gazette excusing the tax payment on affected supplies.
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