The awaited applicability of section 9(4) of CGST Act, section 5(4) of IGST Act & Section 7(4) of UTGST Act which was exempted earlier till 30.06.2018 has been now further extended again via notification given below till 30.09.2018.
The exemption contained in this notification shall apply to all registered persons till the 30th day of Sept, 2018. Thus via these notification the Government has by exercising the powers as conferred by Sec 11 of CGST Act & Sec 6 of IGST act respectively exempted the intra-state supply of goods or services or both as well as inter-State supply of goods or services or both received by a registered person from any supplier, who is not registered, from the whole of the CGST & IGST leviable thereon under the specified sections respectively.
This will definitely bring in a major relief for a temporary period to registered taxpayers at large as it will relieve them from the tax compliance burden & also minimize the tax payment that would have raised due to application of the above provision.
|Reverse charge mechanism u/s 5(4) of IGST Act suspended till 30.09.2018||Notification No.13/2018 – Integrated Tax (Rate)||29/06/2018|
|Reverse charge deferred for procurement from unregistered dealer’s till 30.09.2018||Notification No. 12/2018–Central Tax (Rate)||29/06/2018|
|UTGST: Reverse charge mechanism u/s 7(4) suspended till 30.09.2018||Notification No.12/2018 –Union Territory Tax (Rate)||29/06/2018|