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Key amendments to Finance Bill, 2023 at enactment stage with respect to International Financial Services Centre
The Finance Bill, 2023 (FB 2023 or Bill) was presented by the Hon’ble Finance Minister (FM) Nirmala Sitharaman on 1 February 2023. While moving the bill for approval by the Lok Sabha on 24 March 2023, the FM introduced amendments to FB 2023 (Amended FB 2023). The amendments reflects the Government of India’s commitment to the growth and development of the ecosystem at India’s first International Financial Services Centre (IFSC).
This alert covers direct tax related amendments pertaining to units operating in IFSC.