{"act":{"id":"finance-act-2023","short_title":"The Finance Act, 2023","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2023-2024.","act_number":"8","act_year":2023,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":181,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2023/"},"unit":"section","section":{"number":"159","heading":"Retrospective exemption to certain activities and transactions in Schedule III to the Central Goods and Services Tax Act","text":"Retrospective exemption to certain activities and transactions in Schedule III to the Central Goods and Services Tax Act. 159.  (1) In Schedule III to the Central Goods and Services Tax Act, paragraphs 7 and 8 and the Explanation 2 thereof (as inserted vide section 32 of Act 31 of 2018) shall be deemed to have been inserted therein with effect from the 1st day of July, 2017. (2) No refund shall be made of all the tax which has been collected, but which would not have been so collected, had sub-section (1) been in force at all material times.","html":"<p><b>Retrospective exemption to certain activities and transactions in Schedule III to the Central Goods and Services Tax Act.</b></p><p><b>159. </b> (1) In Schedule III to the Central Goods and Services Tax Act, paragraphs 7 and 8 and the <i>Explanation 2</i> thereof (as inserted<i> vide </i>section 32 of Act 31 of 2018) shall be deemed to have been inserted therein with effect from the 1st day of July, 2017.</p><p><span class=\"num\">(2)</span> No refund shall be made of all the tax which has been collected, but which would not have been so collected, had sub-section (1) been in force at all material times.</p>","words":99,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2023/section/159/","note":null,"source_note":"Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument.","judgments_note":"Judgment holdings are the ratio decidendi as extracted from the order by eCourts India, reproduced unaltered. Reported judgments only.","licence":"Published with commentary and other original matter under s.52(1)(q)(ii), Copyright Act 1957."}