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Analysis of the Notifications issued on 29.09.2023 |
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Analysis of the Notifications issued on 29.09.2023 |
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A Gist Of Notifications – Central Tax - Issued On 29.09.2023 1. Notification No. 48/2023: Appoints 1st October 2023 as the date on which the provisions of the Central Goods & Services (Amendment) Act, 2023 shall come into force. 2. Notification No. 49/2023: Notifies the following supplies under Section 15(5) of the CGST Act: i. Supply of online money gaming ii. Supply of online gaming, other than online money gaming iii. Supply of actionable claims in casinos Note: Sec 15(5) empowers the Government to make valuation rules in respect of such supplies as may be notified and the valuation mechanism prescribed under sub-section 1 to 4 of Section 15 will not apply to such supplies. 3. Notification No. 50/2023: Amends Notification No. 66/2017 - CT Dated 15.11.2017 (which provides for an exemption on advance received in case of supply of goods) to state that registered persons making a supply of actionable claims as defined under Section 2(102A) will be liable to pay tax on advance received by them. 4. Notification No. 51/2023: Makes the following amendments to Central Goods & Services Tax Rules, 2017:
64. Form and manner of submission of return by persons providing online information and data base access or retrieval services and by persons supplying online money gaming from a place outside India to a person in India.- Every registered person either providing online money gaming from a place outside India to a person in India, or providing online information and data base access or retrieval services from a place outside India to a non-taxable online recipient referred to in section 14 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017) or to a registered person other than a non-taxable online recipient, shall file return in FORM GSTR-5A on or before the twentieth day of the month succeeding the calendar month or part thereof.
A Gist Of Notifications – Integrated Tax - Issued On 29.09.2023 1. Notification No. 02/2023: Appoints 1st October 2023 as the date on which the provisions of the Integrated Goods & Services (Amendment) Act, 2023 shall come into force. 2. Notification No.03/2023: Notifies supply of online money gaming as goods, on import of which IGST shall be levied on the value determined under section 15 of the Central Goods and Services Tax Act. Further provisions of section 3 of the Customs Tariff Act, 1975 shall not apply to such imports. 3. Notification No.04/2023: Notifies the Principal Commissioner of Central Tax, Bengaluru West and all the officers subordinate to him as the officers empowered to grant registration in case of supply of online money gaming provided or agreed to be provided by a person located in non-taxable territory and received by a person in India Note: All the above mentioned notifications shall come into effect from 01.10.2023. Disclaimer: The observations made above are based on my understanding of the law. The adjudicating authorities, courts etc may have a completely different view on the same. The information provided in this tax alert does not, and is not intended to constitute legal advice. Instead, all information and content herein are for general informational purposes only.
By: Rupesh Sharma - October 4, 2023
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