GST on receipt of advance - payment of tax to be made on issuance of invoice by registered persons having aggregate turnover less than ₹ 1.5 crores - 40/2017 - Central GST (CGST)

Superseded vide notification no. 66/2017 dated 15-11-2017 Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs Notification No. 40/2017 Central Tax New Delhi, the 13th October, 2017 G.S.R. 1254 (E). - In exercise of the powers conferred by section 148 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter in this notification referred to as the said Act ), the Central Government, on the recommendations of the Council, hereby notifies the registered person whose aggregate turnover in the preceding financial year did not exceed one crore and fifty lakh rupees or the registered person whose aggregate turnover in the year in which such person has obtained registration is likely to be less than one crore and fifty lakh rupees and who did not opt for the composition levy under section 10 of the said Act as the class of persons who shall pay the central tax on the outward supply of goods at the time of supply as specified in clause (a) of sub-section (2) of section 12 of the said Act including in the situations attracting the provisions of section 14 of the said Act , and shall accordingly furnish the details and returns as mentioned in Chapter IX of the said Act and the rules made thereunder and the period prescribed for the payment of tax by such class of registered persons shall be such as specified in the said Act . [F. No. 349/74/2017-GST (Pt.)] (Dr.Sreeparvathy S.L.) Under Secretary to the Government of India