Reverse charge on Priority Sector Lending Certificate expanded through a new notified supply entry under Uttarakhand GST. Priority Sector Lending Certificate is brought within the notified list of supplies on which tax is payable under the reverse charge mechanism. The inserted entry covers goods of any chapter described as Priority Sector Lending Certificate, where both the supplier and the recipient are any registered person. The amendment operates under the State Government's power to notify supplies under the Uttarakhand Goods and Services Tax Act, 2017, and takes effect from 28 May 2018.
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Reverse charge on Priority Sector Lending Certificate expanded through a new notified supply entry under Uttarakhand GST.
Priority Sector Lending Certificate is brought within the notified list of supplies on which tax is payable under the reverse charge mechanism. The inserted entry covers goods of any chapter described as Priority Sector Lending Certificate, where both the supplier and the recipient are any registered person. The amendment operates under the State Government's power to notify supplies under the Uttarakhand Goods and Services Tax Act, 2017, and takes effect from 28 May 2018.
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