Explanation Inserted:
Under sub-section (3) of section 11, a clarification is added to Notification No. 12/2017-Central Tax (Rate).
Scope of Exemption:
The inserted Explanation specifies that the Central Government, State Government, or Union territory must have 50% or more ownership in the entity.
Ownership Criteria:
Ownership can be direct or through a wholly-owned entity by the Central Government, State Government, or Union territory.
Effective Date:
Clarification applicable from the date of notification.
Issuing Authority:
Signed by Mohit Tewari, Under Secretary to the Government of India.
(Dr. Sree Parvathy S.L.) Under Secretary to the Government of India