This notification prescribes the rate of interest applicable for delayed payment of tax, excess ITC availed, delayed refunds and interest on refunds. Interest at 18% and 24% is notified under section 50, while 6% and 9% interest is prescribed for delayed refunds under sections 54 and 56. It provides statutory certainty on interest liability under GST.Amendment:Yes it has been amended through notification 18/2021, 8/2021, 51/2020,
This notification prescribes the rate of interest applicable for delayed payment of tax, excess ITC availed, delayed refunds and interest on refunds. Interest at 18% and 24% is notified under section 50, while 6% and 9% interest is prescribed for delayed refunds under sections 54 and 56. It provides statutory certainty on interest liability under GST.Amendment:Yes it has been amended through notification 18/2021, 8/2021, 51/2020,
Sections covering levy, supply, time and value of supply, input tax credit, returns, assessment, audit, inspection, offences and penalties are brought into force. The notification appoints 1st July, 2017 as the effective date for these provisions.Effective Date: 1st July, 2017
Sections covering levy, supply, time and value of supply, input tax credit, returns, assessment, audit, inspection, offences and penalties are brought into force. The notification appoints 1st July, 2017 as the effective date for these provisions.Effective Date: 1st July, 2017
The notification amends Notification No. 6/2017–Central Tax to expand electronic verification methods. Net banking–based electronic verification code and electronic verification code generated on the common portal are notified as valid modes of verification.Effective Date: 22nd June, 2017Previous Notification:Notification No. 6/2017–Central Tax dated 19.06.2017
The notification amends Notification No. 6/2017–Central Tax to expand electronic verification methods. Net banking–based electronic verification code and electronic verification code generated on the common portal are notified as valid modes of verification.Effective Date: 22nd June, 2017Previous Notification:Notification No. 6/2017–Central Tax dated 19.06.2017
Registered persons are required to mention HSN codes on tax invoices based on their aggregate turnover. No HSN is required up to ₹1.5 crore turnover, two-digit HSN for turnover between ₹1.5 crore and ₹5 crore, and four-digit HSN for turnover exceeding ₹5 crore.Effective Date: 1st July, 2017
Registered persons are required to mention HSN codes on tax invoices based on their aggregate turnover. No HSN is required up to ₹1.5 crore turnover, two-digit HSN for turnover between ₹1.5 crore and ₹5 crore, and four-digit HSN for turnover exceeding ₹5 crore.Effective Date: 1st July, 2017
Interest rates are notified for delayed payment of tax, excess ITC wrongly availed, delayed refunds and interest on delayed refunds. The rates prescribed are 18%, 24%, 6% and 9% for the respective statutory provisions.Effective Date: 1st July, 2017
Interest rates are notified for delayed payment of tax, excess ITC wrongly availed, delayed refunds and interest on delayed refunds. The rates prescribed are 18%, 24%, 6% and 9% for the respective statutory provisions.Effective Date: 1st July, 2017
This notification exempts a wide range of essential goods such as unbranded food items, agricultural produce, livestock, fresh vegetables, milk, eggs and natural products from CGST. The exemption is granted in public interest under section 11(1) and forms the principal exemption notification for goods under GST.Issued for earlier notification?No — this is the principal CGST exemption notification for goods.
This notification exempts a wide range of essential goods such as unbranded food items, agricultural produce, livestock, fresh vegetables, milk, eggs and natural products from CGST. The exemption is granted in public interest under section 11(1) and forms the principal exemption notification for goods under GST.Issued for earlier notification?No — this is the principal CGST exemption notification for goods.
This notification provides a concessional CGST rate of 2.5% on specified goods required for petroleum exploration, mining, production and coal bed methane operations undertaken under licences, leases or contracts approved by the Government of India. The concession is subject to stringent certification, end-use and transfer conditions prescribed in the notification.Issued for earlier notification?No — issued as an independent concessional rate notification under section 11(1).
This notification provides a concessional CGST rate of 2.5% on specified goods required for petroleum exploration, mining, production and coal bed methane operations undertaken under licences, leases or contracts approved by the Government of India. The concession is subject to stringent certification, end-use and transfer conditions prescribed in the notification.Issued for earlier notification?No — issued as an independent concessional rate notification under section 11(1).
This notification specifies certain goods such as cashew nuts (not shelled or peeled), bidi wrapper leaves (tendu), tobacco leaves, silk yarn and lottery, on which CGST shall be paid by the recipient under reverse charge. The liability applies when such goods are supplied by agriculturists, silk yarn manufacturers or Government authorities to registered persons.Issued for earlier notification?No — this is the principal RCM notification for goods.
This notification specifies certain goods such as cashew nuts (not shelled or peeled), bidi wrapper leaves (tendu), tobacco leaves, silk yarn and lottery, on which CGST shall be paid by the recipient under reverse charge. The liability applies when such goods are supplied by agriculturists, silk yarn manufacturers or Government authorities to registered persons.Issued for earlier notification?No — this is the principal RCM notification for goods.
This notification notifies a list of goods, including textiles and railway rolling stock items, in respect of which no refund of unutilised input tax credit shall be allowed where credit accumulates due to inverted duty structure. The restriction is imposed under section 54(3) of the CGST Act to prevent revenue leakage.Issued for earlier notification?No — issued independently under section 54(3).
This notification notifies a list of goods, including textiles and railway rolling stock items, in respect of which no refund of unutilised input tax credit shall be allowed where credit accumulates due to inverted duty structure. The restriction is imposed under section 54(3) of the CGST Act to prevent revenue leakage.Issued for earlier notification?No — issued independently under section 54(3).
This notification specifies the Canteen Stores Department under the Ministry of Defence as an eligible person entitled to claim refund of 50% of CGST paid on inward supplies of goods used for subsequent supply to Unit Run Canteens or authorised customers. The refund mechanism is notified under section 55 of the CGST Act.Issued for earlier notification?No — issued independently under section 55.
This notification specifies the Canteen Stores Department under the Ministry of Defence as an eligible person entitled to claim refund of 50% of CGST paid on inward supplies of goods used for subsequent supply to Unit Run Canteens or authorised customers. The refund mechanism is notified under section 55 of the CGST Act.Issued for earlier notification?No — issued independently under section 55.
