Finance department orders modification in GST SRO 12

“For the purpose of the exemption, the central government, state government or union territory shall have 50 percent, or more ownership in the entity directly or through an entity which is wholly owned by the central government, state government or union territory," the notification further read.

GKNN
Srinagar, Publish Date: Oct 12 2018 12:27AM | Updated Date: Oct 12 2018 12:27AM
Finance department orders modification in GST SRO 12File Photo

Finance department on Thursday ordered modification in SRO-GST-12 notification, dated July 8, 2017.

As per a notification issued from the office of principal secretary finance department Navin K Choudhary, “In exercise of the powers conferred by sub-section (3) of section 11 of the Jammu and Kashmir Goods and Services Tax Act, 2017, the state government, on the recommendations of the council, and on being satisfied that it is necessary so to do for the purpose of clarifying the scope and applicability of the notification SRO-GST-12 dated July 8, 2017 hereby inserts the explanation in the notification.”

The explanation has been given on serial number 41, in column 3 of the table (one time upfront amount, called as premium, salami, cost, price, development charges or by any other name, leviable in respect of the service, by way of granting long term (thirty years, or more) lease of industrial plots, provided by the state government Industrial Development Corporations or undertakings to industrial units).

“For the purpose of the exemption, the central government, state government or union territory shall have 50 percent, or more ownership in the entity directly or through an entity which is wholly owned by the central government, state government or union territory," the notification further read.

The notification shall come into force from September 20, 2018.

Latest News

  1. India, Pakistan armies’ trade fire along LoC in Poonch
  2. India, Pakistan armies’ trade fire along LoC in Poonch
  1. JKLF chief Yasin Malik released on bail, re-arrested: Spokesperson
  2. JKLF chief Yasin Malik released on bail, re-arrested: Spokesperson
  1. PDP expels Basharat Bukhari, Peer Hussain from party
  2. PDP expels Basharat Bukhari, Peer Hussain from party
  1. Mumbai man, released from Pakistani prison, reaches India
  2. Mumbai man, released from Pakistani prison, reaches India
  1. Ending disbursement of subsidised sugar anti-people move: Farooq Abdullah
  2. Ending disbursement of subsidised sugar anti-people move: Farooq Abdullah
  1. Super-50 free coaching: DSEK declares waiting list of candidates
  2. Super-50 free coaching: DSEK declares waiting list of candidates
  1. Missing fitness trainer found hanging in north Kashmir’s Baramulla
  2. Missing fitness trainer found hanging in north Kashmir’s Baramulla
  1. Delhi HC seeks reply from Centre, jail on Asiya Andrabi's plea against solitary confinement
  2. Delhi HC seeks reply from Centre, jail on Asiya Andrabi's plea against solitary confinement
  1. Governor, his advisors must take responsibility of Pulwama civilian killings: Er Rasheed
  2. Governor, his advisors must take responsibility of Pulwama civilian killings: Er Rasheed
  1. Winter vacations announced for Jammu and Kashmir colleges
  2. Winter vacations announced for Jammu and Kashmir colleges
  1. On JRL call, funeral prayers in absentia held for Pulwama slain
  2. On JRL call, funeral prayers in absentia held for Pulwama slain
  1. Bihar school segregates students on caste lines, inquiry ordered
  2. Bihar school segregates students on caste lines, inquiry ordered
  1. PDP MP protests in Parliament against Pulwama civilian killings
  2. PDP MP protests in Parliament against Pulwama civilian killings
  1. Won't let PM sleep until all farms loans waived: Rahul Gandhi
  2. Won't let PM sleep until all farms loans waived: Rahul Gandhi
  1. Imran Khan hopes US-Taliban talks end Afghan suffering
  2. Imran Khan hopes US-Taliban talks end Afghan suffering
  1. Charred body of Kulgam resident found in Shopian
  2. Charred body of Kulgam resident found in Shopian
  1. Normalcy in Kashmir after three-day shutdown over Pulwama civilian killings
  2. Normalcy in Kashmir after three-day shutdown over Pulwama civilian killings
  1. Toll rises to 8 in Mumbai hospital blaze, 25 critical
  2. Toll rises to 8 in Mumbai hospital blaze, 25 critical
  1. Sajjan Kumar resigns from Congress primary membership, writes to Rahul
  2. Sajjan Kumar resigns from Congress primary membership, writes to Rahul
  1. Leopard mauls four-year-old to death in Jammu
  2. Leopard mauls four-year-old to death in Jammu
  1. Father of Hamid Ansari thanks India, Pakistan governments for son's release
  2. Father of Hamid Ansari thanks India, Pakistan governments for son's release
  1. No one can 'dictate' to China what it should, shouldn't do: Xi
  2. No one can 'dictate' to China what it should, shouldn't do: Xi
  1. Twitter warns 'unusual activity' from hackers in China, Saudi Arabia
  2. Twitter warns 'unusual activity' from hackers in China, Saudi Arabia
  1. Intense cold wave continues in Kashmir Valley, Ladakh
  2. Intense cold wave continues in Kashmir Valley, Ladakh
x
This site uses cookies to deliver our services and to show you relevant news and ads. By using our site, you acknowledge that you have read and understand our Cookie Policy, Privacy Policy, and our Terms of Service.That's Fine