GST Notifications issued to implement the recommendations of the 54th meeting of the GST
CBIC has issued GST Notifications to implement the recommendations of the 54th meeting of the GST Council held on 09.09.2024.
The summary of the various notification dated 08.10.2024 issued is as under:
| Notification No. 20/2024–Central Tax | The Central Goods and Services Tax (Second Amendment) Rules, 2024 |
| Notification No. 21/2024–Central Tax | The date upto which payment for the tax payable as per the notice, or statement, or the order can be made |
| Notification No. 22/2024– Central Tax | Special procedure for rectification of order, to be followed by the class of registered persons (hereinafter referred to as the said person), against whom any order under section 73 or section 74 or section 107 or section 108 has been issued confirming demand for wrong availment of input tax credit, on account of contravention of provisions of sub-section (4) of section 16, but where such input tax credit is now available as per the provisions of sub-section (5) or sub-section (6) of section 16 and where appeal against the said order has not been filed |
| Notification No. 23/2024–Central Tax | Waiver of the amount of late fee payable under section 47 by any registered person, required to deduct tax at source under the provisions of section 51, for failure to furnish the return in FORM GSTR-7 for the month of June, 2021 onwards, by the due date, which is in excess of an amount of twenty-five rupees for every day during which such failure continues |
| Notification No. 07/2024-Central Tax (Rate) | Tax rate of 2.5% on Transportation of passengers, with or without accompanied baggage, by air, in a helicopter on seat share basis. Provided that credit of input tax charged on goods used in supplying the service has not been taken. |
| Notification No. 08/2024- Central Tax (Rate) | Amendment to Notification number 12/2017-Central Tax (Rate) dated 28.06.2017. Providing Nil rate of tax on (i) supply of services by way of providing metering equipment on rent, testing for meters/transformers/capacitors etc., releasing electricity connection, shifting of meters/service lines, issuing duplicate bills etc., which are incidental or ancillary to the supply of transmission and distribution of electricity provided by electricity transmission and distribution utilities to their consumers. (ii) Research and development services against consideration received in the form of grants supplied by –(a) a Government Entity; or (b) a research association, university, college or other institution, notified under clauses (ii) or (iii) of sub-section (1) of section 35 of the Income Tax Act, 1961, (iii) Services of affiliation provided by a Central or State Educational Board or Council or any other similar body, by whatever name called, to a school established, owned or controlled by the Central Government, State Government, Union Territory, local authority, Governmental authority or Government entity, (iv) services provided by (a) the National Skill Development Corporation (b) the National Council for Vocational Education and Training; (c) an Awarding Body recognized by the National Council for Vocational Education and Training; (d) an Assessment Agency recognized by the National Council for Vocational Education and Training; (e) a Training Body accredited with an Awarding Body that is recognized by the National Council for Vocational Education and Training – in relation to the National Skill Development Programme or any other scheme implemented by the National Skill Development Corporation; or a vocational skill development course under the National Skill Certification and Monetary Reward Scheme; or any National Skill Qualification Framework aligned qualification or skill in respect of which the National Council for Vocational Education and Training has approved a qualification package. |
| Notification No. 09/2024- Central Tax (Rate) | Service by way of renting of any property other than residential dwelling brought under RCM. |
| Notification No. 05/2024-Central Tax (Rate) | Amendments to amendments in the Notification No. 1/2017-Central Tax (Rate) |
| Notification No. 06/2024-Central Tax (Rate) | Amendment to Notification No. 4/2017- Central Tax (Rate) |
| Notification No. 20/2024 – Central Tax |
The Central Goods and Services Tax (Second Amendment) Rules, 2024 |
The summary of the various notification notified on 09.10.2024 issued is as under:
| Notification No. 02/2024–Union Territory Tax | Adaptation of Central Goods and Services Tax Rules, 2017 |
| Notification No. 06/2024-Central Tax (Rate) |
Supply of Metal scrap by a unregistered person to any registered person brough under GST Reverse Charge Mechanism |
| Notification No. 24/2024-Central Tax | TDS on supply of metal scrap |
| Notification No. 25/2024-Central Tax |
Registration for suppliers of metal scrap |
Download GST Notifications dated 08/09.10.2024 Click Here >>
- Two distinct, non-adjacent flats at different floors does not qualify for exemption u/s 54F
- Violation of conditions u/s 13(1)(c) & denial of exemption. SC directs HC to admit appeal
- Quashing of Notice u/s 148 for AO not applying mind to information received – SLP dismissed
- Time limit for issue of notice u/s 143(2) is from the date of filing of original return of income
- Two flats on two different floors not a single dwelling unit – ITAT rejects exemption u/s 54
