Union Territory Goods and Services Tax (Removal of Difficulties) Order, 2019

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..... .636 (E). --- WHEREAS, section 21 of the Union Territory Goods and Services Tax Act, 2017 (14 of 2017) read with sub-section (1) of section 10 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter in this Order referred to as the said Act) provides that- (i) a registered person engaged in the supply of services, other than supply of service referred to in clause (b) .....

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..... rendering of services as part of the savings and investment practice of business, by way of extending deposits, loans or advances, in so far as the consideration is represented by way of interest or discount, is resulting in their ineligibility for the aforesaid scheme, causing hardships to a lot of small businesses and because of that, certain difficulties have arisen in giving effect to the prov .....

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..... it is hereby clarified that the value of supply of exempt services by way of extending deposits, loans or advances in so far as the consideration is represented by way of interest or discount, shall not be taken into account (i) for determining the eligibility for composition scheme under second proviso to sub-section (1) of section 10 of the said Act; (ii) in computing aggregate turno .....

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