Seeks to amend Notification No S.R.O.No. 364/2017 to give effect to the recommendations of the GST Council in it’s 28th meeting held on 21.07.2018 - S. R. O. No. 520/2018 - Kerala SGST

GOVERNMENT OF KERALA Taxes (B) Department NOTIFICATION G.O. (P) No. 117/2018/TAXES Dated, Thiruvananthapuram, 27th July, 2018 S. R. O. No. 520/2018.- In exercise of the powers conferred by clause (ii) of the first proviso to sub-section (3) of section 54 of the Kerala State Goods and Services Tax Act, 2017 (20 of 2017), the Government of Kerala, on the recommendations of the Council, hereby make the following further amendment in the notification issued under G. O. (P) No. 66/2017/TAXES, dated 30th June, 2017 and published as S. R. O. No. 364/2017 in the Kerala Gazette Extraordinary No. 1354 dated 30th June, 2017, namely:- AMENDMENT In the said notification, in the preamble, 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, any unutilised input tax credit lying in balance, after payment of tax for and up to the month of July, 2018, on the inward supplies received up to the 31st day of July, 2018, shall lapse. . 2. This notification shall come into force on the 27th day of July, 2018. By order of the Governor, VENUGOPAL, P., Secretary to Government. Explanatory Note (This does not form part of the notification, but is intended to indicate its general purport.) Pursuant to the decision taken in the Goods and Services Tax Council Meeting, the Government of Kerala have decided to exclude some goods from the list of goods in respect of which no refund of unutilized input tax credit is allowed where the credit has accumulated on account of rate on inputs being higher than the rate of tax on output supplies of such goods. The notification is intended to achieve the above object.