GST Amendment: Exclusion of Railways from Input Tax Credit
Scope Modification:
The Central Government, through GST Act amendments, excludes the Ministry of Railways (Indian Railways) from the entities eligible for input tax credit under Integrated Goods and Services Tax (IGST) Act provisions.
Amendment Details:
Notification G.S.R. (E) amends the previous notification No. 4/2017-Integrated Tax (Rate), dated June 28, 2017, by revising the entry against S. No. 6 in column 4 of the Table.
Revised Entry:
The revised entry specifies that the Central Government, excluding the Ministry of Railways, State Government, Union territory, or a local authority, can avail input tax credit.
Effective Date:
The amendment takes effect from October 20, 2023, signifying the commencement date for the modified provisions.
Government Authority:
The official notification is issued by Vikram Wanere, Under Secretary, representing the Central Government.
Rationale for Amendment:
The amendment rationale is not explicitly provided; businesses need to adapt to the change and align their processes accordingly.
Advisory for Entities:
Entities involved with the Ministry of Railways should take note of this amendment to ensure compliance with the updated GST regulations.
Note: Refer to the official notification G.S.R. (E) for comprehensive details.