Jharkhand Clarifies GST Exemption: 50% Government Ownership Required for Benefits Under Notification No. 23/2018.

The Government of Jharkhand issued Notification No. 23/2018-State Tax (Rate) on October 4, 2018, under the Jharkhand Goods and Services Tax Act, 2017. It clarifies the scope and applicability of a previous notification, No. 12/2017-State Tax (Rate), dated June 29, 2017. An explanation is added to the notification, specifying that for the exemption to apply, the Central Government, State Government, or Union territory must have 50% or more ownership in the entity, either directly or through a wholly-owned entity. This notification is effective from September 20, 2018.