Amendment in exempt central tax on supply of gold by nominated agencies to registered persons.
Seeks to amend No. 26/2018- Central Tax (Rate) to implement the decisions of 50th GST Council – Notification No. 10/2023-Central Tax (Rate)
G.S.R.(E).-In exercise of the powers conferred by sub-section (1) of section 11of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council,on being satisfied that it is necessary in public interest so to do, hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No.26/2018-Central Tax (Rate), dated the 31st December, 2018, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), videnumber G.S.R. 1263 (E), dated the 31st December, 2018, namely: –
In the said notification, –
(A) in the opening paragraph, for the phrase“paragraph 4.41”, the phrase “paragraph 4.40”, shall be substituted;
(B) in the Explanation, –
(i) for clause (a), the following clause shall be substituted, namely: —
“(a) “Foreign Trade Policy” means the Foreign Trade Policy, 2023, notified by the Government of India in the Ministry of Commerce and Industry vide notification No. 1/2023dated the 31st March, 2023, published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-Section (ii) videS.O. 1565 (E).dated the 31st March, 2023;”
(ii)for clause (b), the following clause shall be substituted, namely: —
“(b) “Handbook of Procedures” means the Handbook of Procedure, notified by the Government of India in the Ministry of Commerce and Industry videPublic Notice No. 01/2023 dated the 1st April, 2023, Extraordinary, Part-I, Section 1 vide F. No. 01/75/171/00016/AM-23/FTP Cell dated the 1st April, 2023;”
2.This notification shall come into force on the 27th July, 2023.
Note: –The principal notification No. 26/2018 -Central Tax (Rate), dated the 31st December, 2018 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 1263(E), dated the 31st December, 2018 and was last amended by notification No. 17/2019 -Central Tax (Rate), dated the 30th September, 2019 vide published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 718(E), dated the 30th September, 2019.
Notification No. 10/2023-Central Tax (Rate)
