NOTICE NO FOR AMMENDMENT OF SECTION 23(1) IN BUDGET 23

[JUBLEEDEALERS PVTLTD]

Notice for recent amendment in section 22(1) and 24 in gst for exempted supplied dealer in the recent finance bill 23

AI Summary

Amendment to Section 23(1) in GST Laws Exempts Certain Individuals from Registration, Effective Retroactively from July 2017. A query was raised by a company regarding the amendment of Section 23(1) in the GST laws as per the Finance Bill 2023. The discussion received three replies. One response clarified that Section 23 has become a non-obstante clause, indicating that individuals exempt under Section 23 are not required to register under GST, even if they fall under Sections 22 or 24. This amendment, effective retroactively from July 1, 2017, exempts those exclusively dealing in exempt supplies or agriculturists from mandatory registration. Another response confirmed the amendment's basis in the Finance Act, 2023.