Union Territory Tax Notifications (Rate)

UTGST Notification rate 26/2018

Title	Union Territory Tax(R) seeks to exempt UTGST on supply of gold by nominated agencies to registered persons.
Number	26/2018
Date	31-12-2018
PDF	Download

1) In exercise of the powers conferred by sub-section (1) of section 8 of the
Union territory Goods and Services Tax Act, 2017 (14 of 2017), 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 gold falling in heading 7108 of the First Schedule to
the Customs Tariff Act, 1975 (51 of 1975), when supplied by Nominated Agency
under the scheme for “Export Against Supply by Nominated Agency” as referred
to in paragraph 4.41 of the Foreign Trade Policy, read with relevant
provisions of Chapter 4 of Handbook of Procedures, to registered person
(herein referred to as “recipient”), from the whole of the Union territory
tax leviable thereon, under section 7 of the Union territory Goods and
Services Tax Act, 2017, subject to following conditions, namely:-

(i) the Nominated Agency and the recipient shall follow the conditions and
observe the procedures as specified in the Foreign Trade Policy read with
Handbook of Procedures;

(ii) the recipient shall export the jewellery made out of such gold within a
period of 90 (ninety) days from the date of supply of gold to such recipient
and shall provide copy of shipping bill or bill of export containing details
of Goods and Services Tax Identification Number (GSTIN) alongwith the
invoice for exports to the Nominated Agency within a period of 120 (one
hundred and twenty) days from the date of supply by the Nominated Agency;

(iii)wherever such proof of export is not produced within the period
mentioned in condition (ii), the Nominated Agency shall pay the amount of
Union territory tax payable on the quantity of gold not exported, along with
interest from the date when the said tax on such supply was payable, but for
the exemption.

Explanation. – For the purpose of this notification, –

(a) “Foreign Trade Policy ” means the Foreign Trade Policy, 2015-2020,
notified by the Government of India in the Ministry of Commerce and Industry
vide notification No.41/2015-2020, dated the 5th December, 2017, published
in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-Section (ii)
vide S.O. 3813, dated the 5th December, 2017;

(b) “Handbook of Procedures” means the Handbook of Procedure, notified by
the Government of India in the Ministry of Commerce and Industry vide Public
Notice No. 43/2015-2020, dated the 5th December 2017, published in the
Gazette of India, Extraordinary, Part-I, Section 1, vide F. No.
01/94/180/333/AM 15/PC-4, dated the 5th December 2017;
(c) “Nominated Agency” means entities mentioned in List 32 of Notification
No. 50/2017-Customs, dated the 30th June 2017 published Gazette of India,
Extraordinary, Part-II, Section 3 sub-section (i),vide, number G. S. R. 785
(E), dated the 30th June, 2017;
(d) “Heading” means heading as specified in the First Schedule to the
Customs Tariff Act, 1975 (51 of 1975)

2) This notification shall come into force on the 1st January, 2019.