Central Tax (Rate) Notification No 15 of 2018 dated 26th July, 2018 under GST

 

Notification no 15/2018 Central Tax (Rate) date on 26th July, 2018, GST

  

Seeks to amend notification No. 13/2017- Central Tax (Rate) so as to specify services supplied by individual Direct Selling Agents (DSAs) to banks/ non-banking financial company (NBFCs) to be taxed under Reverse Charge Mechanism (RCM). 

The extract of GST Notification No. 15/2018- Central Tax (Rate) is given below: 

 Notification No. 15/2018- Central Tax (Rate), GST

 

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II,

SECTION 3, SUB-SECTION (i)]

Government of India

Ministry of Finance

(Department of Revenue)

 

Notification No. 15/2018- Central Tax (Rate)

 

New Delhi, the 26th July, 2018

 

GSR......(E).- In exercise of the powers conferred by sub-section (3) of section 9 of the

 

Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council, hereby makes the following further amendments in the notification of the Government of India, in the Ministry of Finance (Department of Revenue), No.13/2017- Central Tax (Rate), dated the 28thJune, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 692(E), dated the 28thJune, 2017, namely:-

 

In the said notification, -

 

(i)                 in the Table, after serial number 10 and the entries relating thereto, the following serial number and entries shall be inserted, namely: -

 

 

(1)

 

(2)

 

 

 

 

(3)

 

(4)

 

 

 

 

 

 

 

 

“11   Services

supplied

by

Individual

Direct

Selling

A banking company or a

individual

Direct

Selling

Agents (DSAs) other than

non-banking

financial

Agents (DSAs) other than

a

body

corporate,

company,  located  in  the

a

body

corporate,

partnership

or

limited

taxable territory.”;

partnership

or

limited

liability partnership firm.

 

 

 

liability   partnership firm to bank or non-banking financial company (NBFCs).

 

(ii)              in the Explanation, after clause (f), the following clause shall be inserted, namely: - 

‘(g) “renting of immovable property”  means  allowing, permitting or  granting access, entry, occupation, use or any such facility, wholly or partly, in an immovable property, with or without the transfer of possession or control of the said immovable property and includes letting, leasing, licensing or other similar arrangements in respect of immovable property.’.

 

2. This notification shall come into force with effect from 27th of July, 2018.

 

[F. No. 354/13/2018- TRU]

 

(Gunjan Kumar Verma)

Under Secretary to the Government of India

 

Note: -The principal notification No. 13/2017 - Central Tax (Rate), dated the 28th June, 2017 was published in the Gazette of India, Extraordinary, vide number G.S.R. 692 (E), dated the 28thJune, 2017 and was last amended by notification No. 3/2018 - Central Tax (Rate), dated the 25th January, 2018 vide number G.S.R. 66(E), dated the 25th January, 2018.

 

 

 

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Comments


PRABODH KUMAR VERMA: under this notification, how a govt dept shall pay gst to outsourcing agencies, if not received according to Reverse Charge Mechanism.

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