Notification No. 23/2018
Date: September 20, 2018
Subject: Insertion of an explanation to clarify eligibility conditions for exemption relating to Government-owned entities.
Description:
This notification inserts an Explanation under S. No. 41 of Notification No. 12/2017–Central Tax (Rate) to clarify that, for claiming the specified exemption, the Central Government, State Government or Union Territory must have 50% or more ownership in the entity, either directly or through a wholly owned government entity. The clarification removes ambiguity regarding the ownership threshold for availing exemption and ensures uniform interpretation.
Issued for earlier notification?
Yes — issued to clarify and amend Notification No. 12/2017–Central Tax (Rate).