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Clause 142 - Retrospective exemption to certain activities and transactions in Schedule III to the Central Goods and Services Tax Act. - Finance Bill, 2023Extract Retrospective exemption to certain activities and transactions in Schedule III to the Central Goods and Services Tax Act. 142. (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 (12 of 2017). (2) No refund shall be made of all the tax which has been collected, but which would not have been so collected, had subsection (1) been in force at all material times.
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