Finance Bill 2023 changes tax, customs and GST: IFSC tax rules, warehouse duty payment, and GST appellate tribunal.
Income-tax and indirect tax amendments: advance tax on specified funds' income under section 115AD not to attract surcharge; expanded IFSC tax exemptions and 100% deduction under section 80LA for specified assessment year; new withholding entries (including 194BA) and caps on tax collection at source not exceeding 20%; insertion of Customs section 65A requiring payment of integrated tax and compensation cess on goods permitted into warehouses; creation of a Goods and Services Tax Appellate Tribunal with Principal and State Benches and detailed appointment and tenure rules.