CBIC puts a sunset clause on applicability of Notification No. 04/2018- (CT Rate) dated 25.01.2018 w.r.t. development rights
The CBIC vide Notification No. 23/2019- (CT Rate) dated September 30, 2019 has put a retrospective sunset clause on applicability of Notification No. 04/2018- (CT Rate) dated January 25, 2018 w.r.t. development rights supplied on or after April 01, 2019. The later Notification provided special procedure to be followed while determining time of supply in case of construction services against transfer of development rights.
[TO BE PUBLISHED IN THE GAZZETE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)]
Government of India
Ministry of Finance
(Department of Revenue)
Notification No. 23/2019-Central Tax (Rate)
New Delhi, the 30th September, 2019
G.S.R……(E).- In exercise of the powers conferred by section 148 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 amendments in the notification of the Government of India, in the Ministry of Finance (Department of Revenue), No.4/2018- Central Tax (Rate), dated the 25th January, 2018 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 67(E), dated the 25th January, 2018, namely:-
After paragraph, the following explanation shall be inserted, namely: –
Nothing contained in this notification shall apply with respect to the development rights supplied on or after 1st April, 2019.?.
2. This notification shall come into force with effect from the 1 st day of October, 2019.
[F. No. 354/136/2019- TRU]
Under Secretary to the Government of India
Note: – The principal notification was published in the Gazette of India, Extraordinary, vide notification No. 4/2018 – Central Tax (Rate), dated the 25 th January, 2018, vide number G.S.R. 67 (E), dated the 25 th January, 2018.