NOTIFICATION NO.20/2018-UNION TERRITORY TAX (RATE), DATED 26-7-2018

SECTION 54 OF THE UNION TERRITORY GST ACT, 2017, READ WITH SECTION 21 OF THE CENTRAL GST ACT, 2017 – REFUND OF TAX – NOTIFIED SUPPLIES OF GOODS IN RESPECT OF WHICH NO REFUND OF UNUTILISED INPUT TAX CREDIT SHALL BE ALLOWED WHERE RATE OF TAX ON INPUT IS HIGHER THAN RATE OF TAX ON OUTPUT SUPPLIES – AMENDMENT IN NOTIFICATION NO.5/2017-UNION TERRITORY TAX (RATE), DATED 28-6-2017

NOTIFICATION NO.20/2018-UNION TERRITORY TAX (RATE)DATED 26-7-2018

In exercise of the powers conferred by clause (ii) of the proviso to sub-section (3) of section 54 of the Central Goods and Services Tax Act, 2017 (12 of 2017) read with section 21 of the Union Territory Goods and Services Tax Act, 2017 (14 of 2017) the Central Government, on the recommendations of the Council, hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No.5/2017-Union Territory Tax (Rate), dated the 28th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 714(E), dated the 28th June, 2017, namely:—

In the said notification, in the opening paragraph the following proviso shall be inserted, namely:—

Provided that,—

(i) nothing contained in this notification shall apply to the input tax credit accumulated on supplies received on or after the 1st day of August, 2018, in respect of goods mentioned at serial numbers 1, 2, 3, 4, 5, 6, 6A, 6B, 6C and 7 of the Table below; and
(ii) in respect of said goods, the accumulated input tax credit lying unutilised in balance, after payment of tax for and upto the month of July, 2018, on the inward supplies received up to the 31st day of July, 2018, shall lapse.”.

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