And, whereas, re-appointment of liquidators by companies which had passed resolutions for voluntary winding up under the 1956 Act before 1st April, 2017 and making of report by the Official Liquidators to the High Court (wherein reports have been made by liquidators to the Official Liquidators) would create difficulties;
Pending proceeding relating to voluntary winding up.- All proceedings relating to voluntary winding up of a company where notice of the resolution by advertisement has been given under sub-section (1) of section 485 of the Act but the company has not been dissolved before the 1st day of April, 2017 shall continue to be dealt with in accordance with provisions of the Act.
Govt hereby notifies that the integrated tax, on the inter-State supply of services of description as specified in column (3) of the Table below, falling under Chapter, Section or Heading of scheme of classification of services as specified in column (2), shall be levied at the rate as specified in the corresponding entry in column (4),
GST Council, hereby exempts, inward supplies of goods, description of which is specified in column (3) of the Table below, falling under tariff item, sub-heading, heading or Chapter, as the case may be, as specified in the corresponding entry in column (2), from the whole of integrated tax leviable thereon under section 5 of the Integrated Good and Services Tax Act, 2017
Central Government, on the recommendations of the Council, hereby specifies the Canteen Stores Department, under the Ministry of Defence, as a person who shall be entitled to claim a refund of fifty per cent. of applicable integrated tax paid by it on all inward supplies of goods received by it for the purposes of subsequent supply of such goods to the Unit Run Canteens of the CSD or to the authorized customers of the CSD.
Central Govt, on recommendations of Council, hereby notifies goods,in respect of which no refund of unutilised input tax credit shall be allowed, where credit has accumulated on account of rate of tax on inputs being higher than rate of tax on output supplies of such goods (other than nil rated or fully exempt supplies).
With effect from 01-07-2017 Integrated Goods and Services Tax (IGST) and GST Compensation Act would come into force. IGST and GST Compensation Cess Wherever application, would be levied on cargo arriving on 1st July, 2017 It would be effective from midnight of 30th June 2017.
Central Government, on the recommendations of the Council, hereby notifies, that the cess, on the supply of services of description specified in column (2) of the Table below and falling in Chapter, Section, Heading or Group specified in column (3) of the said Table, shall be levied at the rate specified in the corresponding entry in column (4) of the said Table.
Implementation of Ind AS in the Insurance Sector in India has been deferred for a period of two years and the same shall now be implemented effective 2020-21.
Taxation Laws (Amendment) Act, 2017 (18 of 2017), the Central Government hereby appoints the 1st day of July, 2017 as the date on which all the provisions of the said Act shall come into force.
