Clause 123 - Retrospective effect to notification issued under clause (i) of section 21 of Union Territory Goods and Services Tax Act read with subsection (2) of section 7 of Central Goods and Services Tax Act.
Finance Bill, 2022 Union Territory Goods and Services Tax
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Retrospective notification effect: notification deemed effective from 1 July 2017 and no refunds of UT tax. Clause 123 deems notification G.S.R. 747(E), issued under clause (i) of section 21 UTGST read with subsection (2) of section 7 CGST, to have been in force ... Summary
Retrospective notification effect: notification deemed effective from 1 July 2017 and no refunds of UT tax.
Clause 123 deems notification G.S.R. 747(E), issued under clause (i) of section 21 UTGST read with subsection (2) of section 7 CGST, to have been in force from 1 July 2017 for all purposes, and prohibits refunds of Union territory tax already collected that would not have been collected had the notification been in force at the relevant times.
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