Taxcharcha
GSTLatest

Notification No. 02/2021 – Central Tax (Rate) – Allowing utilisation of ITC by Landowner promoter and change in GST rate of Maintenance, Repair and Overhaul services of ships and vessels

GST rate notifications

The CBIC has issued the Notification No. 02/2021 – Central Tax (rate) in which the following changes have been issued:-

a. Allowing the Landowner promoter to utilise the ITC charged to him by the Developer promoter for payment of tax on apartments supplied by the landowner promoter in such project

b. Reducing the GST rate of Maintenance, Repair and Overhaul services of ships and vessels to 5%

The said changes shall be effective from 2nd June 2021 onwards

To view and download the Notification click here https://www.cbic.gov.in/resources//htdocs-cbec/gst/notfctn-02-2021-2020-cgst-rate.pdf

Related posts

16/2018-Central Tax ,dt. 23-03-2018 – Seeks to prescribe the due dates for filing FORM GSTR-3B for the months of April to June, 2018

Team Taxcharcha

CBDT released JAVA utility of ITR 3 for AY 2018-19

Team Taxcharcha

IGST & Compensation cess exemption to EOUs on Imports till 31-03-2020

Team Taxcharcha