Notification No. 24/2018
Date: September 20, 2018
Subject: Insertion of explanation clarifying government ownership for exemption under Notification No. 9/2017–IGST (Rate).
Description:
This notification inserts an Explanation against Serial No. 43 of Notification No. 9/2017–Integrated Tax (Rate) to clarify the meaning of government ownership for availing exemption. It specifies that Central Government, State Government or Union Territory must hold 50% or more ownership in the entity, directly or through a wholly owned government entity. The clarification removes ambiguity regarding eligibility for exemption.
Issued for earlier notification?
Yes — it amends Notification No. 9/2017–Integrated Tax (Rate).