finance bill: Retro amendment clears key GST doubt, but opens door for further litigation

Schedule III to the Central Goods & Services Tax Act, 2017, (CGST Act) contains activities or transactions that can be treated neither as a supply of goods nor as a supply of services. Thus, no GST shall be payable in respect of the activities or transactions specified in Schedule III.The Finance Bill, 2023, has proposed changes in this schedule with effective from February 1, 2019, by inserting:Para 7 — supply of goods from a non-taxable