Integrated Tax Notifications (Rate)

IGST Notification rate 21/2018

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) read with section 20 of the Integrated Goods and Services Tax Act,
2017 (13 of 2017) the Central Government, on the recommendations of the
Council, hereby makes the following amendments in the notification of the
Government of India in the Ministry of Finance (Department of Revenue),
No.5/2017- Integrated 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. 670(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.”.