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of <h1>Finance Bill 2020: Retrospective GST Changes on Fishmeal, Agri Machinery Parts, and Tobacco Cess; No Refunds if Paid.</h1> The Finance Bill, 2020 introduces retrospective amendments to GST rate notifications. It exempts fishmeal from Central, Union Territory, and Integrated Tax for the period between July 1, 2017, and September 30, 2019, without refund eligibility if GST was paid. It imposes a 12% Integrated Tax and 6% each for Central and Union Territory Tax on specific agricultural machinery parts from July 1, 2017, to December 31, 2018, also without refund eligibility if GST was paid. Additionally, it disallows refunds for accumulated credit of compensation cess on tobacco products due to an inverted duty structure, effective retrospectively from July 1, 2017.
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