Seeks to insert explanation in an entry in notification No. 12/2017 – Central Tax (Rate) by exercising powers conferred under section 11(3) of CGST Act, 2017 - 23/2018 - Central GST (CGST) Rate
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Government ownership threshold clarified: majority-owned entities qualify for the specified tax exemption under amended notification. The Explanation inserted into Notification No.12/2017 clarifies that, for the purpose of the exemption, the Central Government, State Government or Union territory shall have 50 per cent. or more ownership in the entity directly or through an entity which is wholly owned by the Central Government, State Government or Union territory.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Government ownership threshold clarified: majority-owned entities qualify for the specified tax exemption under amended notification.
The Explanation inserted into Notification No.12/2017 clarifies that, for the purpose of the exemption, the Central Government, State Government or Union territory shall have 50 per cent. or more ownership in the entity directly or through an entity which is wholly owned by the Central Government, State Government or Union territory.
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