BHUBANESWAR: The State Cabinet chaired by Chief Minister Naveen Patnaik on Wednesday approved Odisha Goods and Services Tax (Amendment) Bill, 2023 that proposes to simplify the provisions and provide certain facilities to taxpayers and tax authorities in the state.
Provision has also been made for the Goods and Services Tax Appellate Tribunal constituted under the CGST Act, 2017 to be the appellate tribunal under the OGST Act for hearing appeals against the orders passed by the appellate authority or the revisional authority. It also enabled the creation of principal benches and state benches instead of area benches or national benches or regional benches of the appellate tribunal.
With the amendment, certain offences have been decriminalised to increase the monetary threshold from Rs 1 crore to Rs 2 crore for launching prosecution for the offences. Accordingly, persons involved in offences relating to the issuance of invoices without a supply of goods or services or both from the option of compounding the offences have been excluded.
The amendment removed the restriction imposed on registered persons engaged in supplying goods through electronic commerce operators from opting to pay tax under the composition levy.
As per the amended bill, the input tax credit will not be available in respect of goods or services or both received by a taxable person which is used or intended to be used for activities relating to his obligations under corporate social responsibility as referred to in section 135 of the Companies Act, 2013. Earlier, the provision for the application of revocation or cancellation of registration was to be made within 30 days.