09_2018_(Rate)

OFFICIAL GAZETTE — GOVT. OF GOA

SERIES I No. 42 (EXTRAORDINARY No. 3) 24TH JANUARY, 2018

Explanation–For the purposes of this notification,—

• in case of a registered person who has claimed depreciation under section 32 of the Income-Tax Act,1961 (43 of 1961) on the said goods, the value that represents the margin of the supplier shall be the difference between the consideration received for supply of such goods and the depreciated value of such goods on the date of supply, and where the margin of such supply is negative, it shall be ignored; and

• in any other case, the value that represents the margin of supplier shall be, the difference between the selling price and the purchase price and where such margin is negative, it shall be ignored.

• This notification shall not apply, if the supplier of such goods has availed input tax credit as defined in clause (63) of section 2 of the Goa Goods and Services Tax Act, 2017, CENVAT as defined in CENVAT Credit Rules, 2004 or the input tax credit of Value Added Tax or any other taxes paid, on such goods.

• This notification shall come into force with effect from the 25 day of January, 2018.

By order and in the name of the Governor of Goa.

Sushama D. Kamat, Under Secretary, Finance (R&C).

Porvorim, 24th January, 2018.

________

Notification

38/1/2017-Fin(R&C)(9/2018-Rate)

In exercise of the powers conferred by sub-section (1) of section 11 of the Goa Goods and Services Tax Act, 2017 (Goa Act 4 of 2017) (hereafter in this notification referred to as “the said Act”) read with sub-section (3) of section 11 of the said Act, the Government of Goa, on being

1992

OFFICIAL GAZETTE — GOVT. OF GOA

SERIES I No. 42 (EXTRAORDINARY No. 3) 24TH JANUARY, 2018

satisfied that it is necessary in the public interest so to do, on the recommendations of the Council, makes the following amendments in the Government notification No. 38/1/2017- Fin(R&C)(45/2017-Rate), dated the 14th November, 2017, published in the Extraordinary, Official Gazette, Series I No. 32, dated the 14th November, 2017, namely:—

In the said notification,—

(1) in the Table, —

(a) against serial number 1, –

(i) in column (2), for the entry, the following entry shall be substituted, namely:—

“Public funded research institution or a University or an Indian Institute of Technology or Indian Institute of Science, Bangalore or a Regional Engineering College, other than a hospital”;

(ii) in column (4), for the words “Department of Scientific and Research”, the words “Department of Scientific and Industrial Research”, shall be substituted;

(b) against serial numbers 2 and 4, in column (4), for the words “Department of Scientific and Research”, the words “Department of Scientific and Industrial Research”, shall be substituted.

(2) after the Table, the existing Explanation shall be numbered as Explanation 1 thereof and after Explanation 1 as so numbered, the following Explanation shall be inserted, namely:—

“Explanation 2.— For the purposes of this notification, exemption would be in line with the notification of the Government of India, in the Ministry of Finance (Department of Revenue), No. 51/96-Customs, dated the 23rd July, 1996, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 303(E), dated the 23rd July, 1996 and is applicable with effect from the 15th November, 2017.”.

This notification shall come into force with effect from the 25th day of January, 2018.

By order and in the name of the Governor of Goa.

Sushama D. Kamat, Under Secretary, Finance (R&C).

Porvorim, 24th January, 2018.

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