Important Keywords: Notification No. 05/2024 – Central Tax: Amendment in Notification No. 02/2017-CT dated 19th June, 2017, Notification No. 02/2017-Central Tax, Notification No. 39/2023 – CT, F. No. CBIC-20016/18/2023-GST, Notification No. 05/2024 – CT, Section 3 CGST Act 2017, Section 5 CGST Act 2017,
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Table of Contents
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)]
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS
New Delhi, dated the 30th January, 2024
Notification No. 05/2024 – Central Tax: Amendment in Notification No. 02/2017-CT dated 19th June, 2017.
Notification No. 05/2024 – Central Tax: G.S.R…(E).— In exercise of the powers under section 3 read with section 5 of the Central Goods and Services Tax Act, 2017 (12 of 2017) and section 3 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017), the Central Government, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 02/2017-Central Tax, dated the 19th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 609(E), dated the 19th June, 2017, namely:–
In the said notification, in Table II, in serial number 83, in column (3), in clause (ii), after the figure and letter “411060,”, the figure and letter “411069,” shall be inserted.
[F. No. CBIC-20016/18/2023-GST]
(Raghavendra Pal Singh)
Director
Note:-The principal notification No. 02/2017-Central Tax, dated the 19th June, 2017 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 609(E), dated the 19th June, 2017 and was last amended by notification No. 39/2023-Central Tax, dated the 17th August, 2023, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 612(E), dated the 17th August, 2023.
Frequently Asked Questions (FAQs)
Q1: What is Notification No. 05/2024 – Central Tax?
Answer:
Notification No. 05/2024 – Central Tax introduces amendments to Notification No. 02/2017-CT, issued on 19th June 2017. It aims to:
✔️ Update GST provisions for specific taxpayer categories.
✔️ Improve compliance measures and tax administration.
✔️ Align GST rules with evolving business needs.
Need expert guidance? Consult a GST professional at Finodha for in-depth analysis and compliance solutions.
Q2: Why was Notification No. 02/2017-CT amended?
Answer:
The amendment under Notification No. 05/2024 – Central Tax was necessary to:
🔹 Modify existing tax regulations to improve clarity and enforcement.
🔹 Ensure smooth compliance for businesses under GST.
🔹 Align with evolving tax policies and address taxpayer concerns.
For seamless GST compliance, check out Finodha’s expert services.
Q3: Who needs to comply with Notification No. 05/2024 – Central Tax?
Answer:
✅ Businesses registered under Notification No. 02/2017-CT.
✅ Taxpayers whose compliance requirements have changed due to this amendment.
✅ Any business seeking clarity on GST compliance updates.
Unsure if this applies to your business? Talk to a GST expert for a quick assessment.
Q4: Does this notification impact GST registration?
Answer:
🔹 The amendment may introduce new eligibility criteria or modify registration conditions.
🔹 Taxpayers should verify whether they must register or update their GST details.
📌 Register for GST online to ensure compliance with the latest GST rules.
Q5: How does Notification No. 05/2024 – Central Tax impact GST return filing?
Answer:
🔹 Taxpayers should verify whether return filing procedures or deadlines have changed.
🔹 Ensure you are filing accurate returns under the revised provisions.
📌 Stay compliant with Finodha’s hassle-free GST return filing service.
Q6: Where can I find the official Notification No. 05/2024 – Central Tax?
Answer:
📌 You can download it from:
✔️ CBIC Website: www.cbic.gov.in
✔️ GST Portal: www.gst.gov.in
For expert breakdowns and compliance support, visit Finodha.in.
Q7: What happens if I fail to comply with this notification?
Answer:
🚨 Non-compliance could lead to:
✔️ Penalties or legal consequences under the CGST Act.
✔️ Difficulty in claiming ITC (Input Tax Credit).
✔️ Business disruptions due to tax-related issues.
📌 Avoid penalties with expert GST compliance support.
Q8: How can businesses adapt to the changes under this notification?
Answer:
To ensure smooth compliance:
✔️ Understand the amendments and how they affect your business.
✔️ Adjust tax filing and registration details accordingly.
✔️ Seek professional assistance for a hassle-free transition.
Consult Finodha’s GST professionals for business-specific solutions.
Q9: How does this notification impact MSMEs and startups?
Answer:
🔹 MSMEs and startups may see tax obligations, return filing, or registration criteria changes.
🔹 Ensuring compliance early can help avoid unnecessary penalties.
📌 Get expert GST registration support for your MSME or startup.
Q10: How can I stay updated on future GST notifications?
Answer:
📌 To stay updated:
✔️ Follow CBIC and GST portal announcements.
✔️ Subscribe to trusted GST advisory platforms like Finodha.in.
✔️ Consult professionals for expert insights.
🚀 Finodha’s GST experts provide real-time updates & expert compliance guidance!
Download PDF: Notification No. 05/2024 – Central Tax
Read More: Notification No. 01/2021 – Central Tax: Seeks to make amendment (2021) to CGST Rules, 2017.
More Information: https://taxinformation.cbic.gov.in/
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