Circular No.ES/ 265/2017-18 January 02, 2018
To: Members of the Council
Sub: CBEC notifications related to GST under Central Tax and Union Territory Tax
Dear Member,
We would like to inform you that the Central Board of Excise ad Customs (CBEC) has issued various notifications on 01.01.2018 relating to GST under Central Tax and Union Territory Tax.
The details of which are given here-below:
Notification No.1/2018-Central Tax dated 01.01.2018- Central Tax seeks to further amend notification No. 8/2017- Central Tax so as to prescribe effective rate of tax under composition scheme for manufacturers and other suppliers.
In the said notification, in the opening paragraph, –
(b) in clause (iii), for the words “half per cent. of the turnover”, the words “half per cent. of the turnover of taxable supplies of goods” shall be substituted.
Notification No.1/2018-Union Territory Tax dated 01.01.2018- Union Territory Tax seeks to further amend notification No. 2/2017 - Union Territory Tax so as to prescribe effective rate of tax under composition scheme for manufacturers and other suppliers.
In the said notification, in the opening paragraph, –
(a) in clause (i), for the words “one per cent.”, the words “half per cent.” shall be substituted;
(b) in clause (iii), for the words “half per cent. of the turnover”, the words “half per cent. of the turnover of taxable supplies of goods” shall be substituted.
Members may kindly make a note of the above amendments.
Thanking you,
Yours faithfully,
S. BALARAJU
EXECUTIVE DIRECTOR
