Important Keyword: Section 54(3)(ii) CGST Act 2017, Section 20 IGST Act 2017, [F.No.354/255/2018-TRU], Notification No. 21/2018 – Integrated Tax (Rate), Notification No. 46/2017-Integrated Tax (Rate), Notification No.5/2017-Integrated Tax (Rate).

[F.No.354/255/2018-TRU]
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(Department of Revenue)

New Delhi, the 26^th July, 2018

Notification No. 21/2018 – Integrated Tax (Rate)

GST: [TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTE OF INDIA, EXTRAORDINARY]

G.S.R.  (E).- 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 20 of the Integrated Goods and Services Tax Act, 2017 (13 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- Integrated 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. 670(E), dated the 28th June, 2017, namely:-

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

“Provided that,-

• nothing contained in this notification shall apply to the input tax credit accumulated on supplies received on or after the 1^st 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
• 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 31^st day of July 2018, shall lapse.”.

(Gunjan Kumar Verma)
Under Secretary to the
Government of India

Note: – The principal notification No.5/2017-Integrated Tax (Rate), dated the 28th June, 2017 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 670(E), dated the 28th June, 2017 and last amended vide notification No. 46/2017-Integrated Tax (Rate) dated 14^th November, 2017 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 1395 (E), dated the 14^th November, 2017.

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Download Pdf: https://taxinformation.cbic.gov.in/