Central Government, acting on Council recommendations, introduces amendments to Notification No. 2/2017-Central Tax (Rate) dated June 28, 2017.
New entries added: "Duty Credit Scrips" and "Supply of goods by Government entities."
Definition of "Government Entity" clarified, covering bodies with 90% or more government participation.
Provision added for relinquishing brand name rights voluntarily, if different from packing entity.
Affidavit requirement imposed for foregoing brand name rights.
Amendments aim to streamline tax procedures and enhance clarity in definitions.
Promotes transparency and accountability in tax compliance.
Supports efficient functioning of government and business entities.
(Ruchi Bisht) Under Secretary to the Government of India