Ashish Ranjan
Lok Sabha passes Finance Bill 2023: The Finance Bill 2023 was passed by the Lok Sabha on Friday with 64 official amendments, including one that seeks the revocation of long-term tax benefits on certain categories of debt mutual funds and another that establishes the GST Appellate Tribunal.
The Finance Bill, which implements tax proposals for the fiscal year beginning 1 April, was passed without debate despite opposition members’ demands for a JPC (Joint Parliamentary Committee) investigation into the allegations leveled against the Adani group of companies.
Finance minister Nirmala Sitharaman announced the formation of a committee under the direction of the finance secretary to investigate government employee pension issues as she pushed for the bill’s passage and consideration.
She added that the Reserve Bank of India will investigate payments made with credit cards for foreign travel that avoid source-based taxes.Sitharman introduced 64 official amendments to the Finance Bill, which was introduced to the House of Representatives on 1 February alongside the budget proposals.
Thursday marked the passage of the Budget. Due to the protest, no discussion was possible at that time as well.Twenty new sections have been introduced to the bill due to amendments.The Finance Bill will be sent to the Rajya Sabha at this time.
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During the course of the House’s consideration of the bill, several opposition members were in the well shouting slogans and waving placards in support of a Joint Parliamentary Committee investigation into the allegations made against the Adani group of companies in a report by an American short-seller.As sloganeering persisted, the House proceedings were adjourned until Monday.
