Notification no 15/2018 Central Tax (Rate) date on 26th July, 2018, GST

Seeks to amend notification No. 13/2017- Central Tax (Rate) so as to specify services supplied by individual Direct Selling Agents (DSAs) to banks/ non-banking financial company (NBFCs) to be taxed under Reverse Charge Mechanism (RCM). 

The extract of GST Notification No. 15/2018- Central Tax (Rate) is given below: 

 Notification No. 15/2018- Central Tax (Rate), GST

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II,

SECTION 3, SUB-SECTION (i)]

Government of India

Ministry of Finance

(Department of Revenue)

Notification No. 15/2018- Central Tax (Rate)

New Delhi, the 26^th July, 2018

GSR......(E).- In exercise of the powers conferred by sub-section (3) of section 9 of the

Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council, hereby makes the following further amendments in the notification of the Government of India, in the Ministry of Finance (Department of Revenue), No.13/2017- Central Tax (Rate), dated the 28^thJune, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 692(E), dated the 28^thJune, 2017, namely:-

In the said notification, -

(i)                 in the Table, after serial number 10 and the entries relating thereto, the following serial number and entries shall be inserted, namely: -

liability   partnership firm to bank or non-banking financial company (NBFCs).

(ii)              in the Explanation, after clause (f), the following clause shall be inserted, namely: - 

‘(g) “renting of immovable property”  means  allowing, permitting or  granting access, entry, occupation, use or any such facility, wholly or partly, in an immovable property, with or without the transfer of possession or control of the said immovable property and includes letting, leasing, licensing or other similar arrangements in respect of immovable property.’.