notifications no. 20/2018 Central Tax (Rate)
Jitendra Bhansali (39 Points)
29 July 2018
What is this notification on 26 July 2018.
7 Replies
Vinod Babu
(24191 Points)
Replied 29 July 2018
Notification No. 20/2018-Central Tax (Rate)
New Delhi, the 26th July, 2018
G.S.R. (E).- In exercise of the powers conferred by clause (ii) of the proviso to sub-section (3)
of section 54 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.5/2017-Central Tax (Rate), dated the 28th June, 2017, published in
the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R.
677(E), dated the 28th June, 2017, namely:-
In the said notification, in the opening paragraph the following proviso shall be inserted,
namely:-
“Provided that,-
(i) nothing contained in this notification shall apply to the input tax credit accumulated on
supplies received on or after the 1st day of August, 2018, in respect of goods mentioned
at serial numbers 1, 2, 3, 4, 5, 6, 6A, 6B, 6C and 7 of the Table below; and
(ii) in respect of said goods, the accumulated input tax credit lying unutilised in balance,
after payment of tax for and upto the month of July, 2018, on the inward supplies
received up to the 31st day of July 2018, shall lapse.”.
[F.
New Delhi, the 26th July, 2018
G.S.R. (E).- In exercise of the powers conferred by clause (ii) of the proviso to sub-section (3)
of section 54 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.5/2017-Central Tax (Rate), dated the 28th June, 2017, published in
the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R.
677(E), dated the 28th June, 2017, namely:-
In the said notification, in the opening paragraph the following proviso shall be inserted,
namely:-
“Provided that,-
(i) nothing contained in this notification shall apply to the input tax credit accumulated on
supplies received on or after the 1st day of August, 2018, in respect of goods mentioned
at serial numbers 1, 2, 3, 4, 5, 6, 6A, 6B, 6C and 7 of the Table below; and
(ii) in respect of said goods, the accumulated input tax credit lying unutilised in balance,
after payment of tax for and upto the month of July, 2018, on the inward supplies
received up to the 31st day of July 2018, shall lapse.”.
[F.
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 29 July 2018
Pehle textile industry Ko jo unutilized ITC per refund nahi milta tha woh ab notification 20 CT (r) notify Kiya hai ki unko ab 1/8/2018 se jo bhi stock or purchase per ITC unutilized hoga uska ab refund claim kar sakte hai under Inverted Tax Structure
Note : 31/07/2018 tak jo bhi unutilized ITC hai woh lapse go jaega aur uska aap refund claim nahi kar sakte
Note : 31/07/2018 tak jo bhi unutilized ITC hai woh lapse go jaega aur uska aap refund claim nahi kar sakte
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 29 July 2018
below given the items
As per notification 5/2017 CT (r)
1. 5007 Woven fabrics of silk or of silk waste
2. 5111 to 5113 Woven fabrics of wool or of animal hair
3. 5208 to 5212 Woven fabrics of cotton
4. 5309 to 5311 Woven fabrics of other vegetable textile fibres, paper yarn
5. 5407, 5408 Woven fabrics of manmade textile materials
6. 5512 to 5516 Woven fabrics of manmade staple fibres
7. 60 Knitted or crocheted fabrics [All goods]
As per notification 5/2017 CT (r)
1. 5007 Woven fabrics of silk or of silk waste
2. 5111 to 5113 Woven fabrics of wool or of animal hair
3. 5208 to 5212 Woven fabrics of cotton
4. 5309 to 5311 Woven fabrics of other vegetable textile fibres, paper yarn
5. 5407, 5408 Woven fabrics of manmade textile materials
6. 5512 to 5516 Woven fabrics of manmade staple fibres
7. 60 Knitted or crocheted fabrics [All goods]
sumit kumar
(Ca Final)
(174 Points)
Replied 23 August 2018
Agar ye 7 items hum sale krte hain ,tbi hoga na inka itc lapse????
Ya agar ye items purchase krke readymade garments sale krte, tab hoga lapse??
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 23 August 2018
NAHI , YE WOH ITEM HAIN JIN PER ITC REFUND NAHI MILTA THA UNDER INVERTED TAX STRUCTURE MAIN LEKIN AB YEH ITEM MAIN DEAL KARNE WALE REFUND CLAIM KAR SAKHENGE
GOVT NEY NOTI.5,29,44 CT (RATE) MAIN KUCH ITEM KI LIST JAARI KI JIN PER ITC REFUND NAHI LE SAKTE UNDER "INVERTED TAX STRUCTURE" AUR YEH ITEM PER ITC REFUND REVOKE/CANCEL KI NOTIFICATION NO.20/2018.
TOH JIS BHI TAXPAYER (JO IN ITEM MAIN DEAL KARTE HAIN) KA ITC BALANCE 31/07/2018 TAK BOOKS MAIN STAND KARTA HAI WOH USKA REFUND NAHI LE SAKTE TOH ISKA MATLAB KI LAPS HO GAYA, AUT YEY TAXPAYER AAGEY SEY FROM 1.8.2018 SEY REFUND LE SAKTE HAIN
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