Notification no 40/2017 Central Tax (Rate) date on 23rd October, 2017, GST

Seeks to prescribe Central Tax rate of 0.05% on intra-State supply of taxable goods by a registered supplier to a registered recipient for export subject to specified conditions.

The extract of GST Notification No. 40/2017- Central Tax (Rate) is given below:

Notification No. 40/2017- 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. 40/2017-Central Tax (Rate)

New Delhi, the 23^rd October, 2017

G.S.R.….(E).- In exercise of the powers conferred by sub-section (1) of section 11 of

the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter in this notification referred to as “the said Act”), the Central Government, on being satisfied that it is necessary in the public interest so to do, on the recommendations of the Council, hereby exempts the intra-State supply of taxable goods (hereafter in this notification referred to as “the said goods”) by a registered supplier to a registered recipient for export, from so much of the central tax leviable thereon under section 9 of the said Act, as is in excess of the amount calculated at the rate of 0.05 per cent., subject to fulfilment of the following conditions, namely: -

(i)         the registered supplier shall supply the goods to the registered recipient on a tax invoice;

(ii)        the registered recipient shall export the said goods within a period of ninety days from the date of issue of a tax invoice by the registered supplier;

(iii)        the registered recipient shall indicate the Goods and Services Tax Identification Number of the registered supplier and the tax invoice number issued by the registered supplier in respect of the said goods in the shipping bill or bill of export, as the case may be;

(iv)        the registered recipient shall be registered with an Export Promotion Council or a Commodity Board recognised by the Department of Commerce;

(v)        the registered recipient shall place an order on registered supplier for procuring goods at concessional rate and a copy of the same shall also be provided to the jurisdictional tax officer of the registered supplier;

(vi)        the registered recipient shall move the said goods from place of registered supplier –

(a)  directly to the Port, Inland Container Deport, Airport or Land Customs Station from where the said goods are to be exported; or