13th October, 2017
THE
CENTRAL GOODS AND SERVICES TAX (REMOVAL OF DIFFICULTIES) ORDER, 2017
Order
No. 01/2017-Central Tax
S.O.
(E). – Whereas, certain difficulties have arisen in giving effect to the
provisions of the Central Goods and Services Tax Act, 2017 (12 of 2017), hereinafter
in this order referred to as the said Act,
in so far as it relates to the provisions of section 10 of the said Act;
Now,
therefore, in exercise of the powers conferred by section 172 of the said Act,
the Central Government, on recommendations of the Council, hereby makes the
following Order, namely:-
1. This Order may be called the Central
Goods and Services Tax (Removal of Difficulties) Order, 2017.
2. For the removal of difficulties,-
(i)
it is
hereby clarified that if a person supplies goods and/or services referred to in
clause (b) of paragraph 6 of Schedule II of the said Act and also supplies any
exempt services including services by way of extending deposits, loans or
advances in so far as the consideration is represented by way of interest or
discount, the said person shall not be ineligible for the composition scheme
under section 10 subject to the fulfilment of all other conditions specified
therein.
(ii)
it is
further clarified that in computing his aggregate turnover in order to
determine his eligibility for composition scheme, value of supply of any exempt
services including 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.
