Scope of Amendment:
Amendments are made to Notification No. 11/2017, addressing clauses under various sections of the UTGST and CGST Acts.
Changes in Landowner-Promoter Credit:
Landowner-promoters can now utilize tax credits from developers for apartment sales within a project.
Expansion of Service Coverage:
Maintenance, repair, or overhaul services for ships and vessels, including engines and components, are now taxable at 2.5%.
Effective Date:
The amendment is effective from June 2, 2021, ensuring immediate implementation.
Council Recommendations:
Changes are enacted based on recommendations from the Council, aligning with public interest.
Administrative Details:
Implemented by the Ministry of Finance, Department of Revenue, under official notification.
Publication Reference:
Original notification published in the Gazette of India, Extraordinary, vide number G.S.R. 702(E), dated June 28, 2017, with subsequent amendments.
(Rajeev Ranjan)
Under Secretary to the Government of India