MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 4th June, 2018
G.S.R. 524(E).—In exercise of the powers conferred by section 53 read with section 17 of the Central Goods and Services Tax Act, 2017 (12 of 2017), sections 17 and 18 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017) and section 21 of the Union Territory Goods and Services Tax Act, 2017 (14 of 2017), the Central Government hereby makes the following further amendments in the Goods and Services Tax Settlement of Funds Rules, 2017, namely:—
1. (1) These rules may be called the Goods and Services Tax Settlement of Funds (Second Amendment) Rules, 2018.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. In the Goods and Services Tax Settlement of Funds Rules, 2017, in rule 11, for sub-rule (3), the following shall be substituted, namely:—
“(3) At any point of time in any particular financial year, the Central Government may, on the recommendations of the Council, provisionally settle any sum of integrated goods and services tax collected in that particular financial year which has not been settled so far which will be adjusted in the subsequent month(s)/year(s), based on the returns filed by the taxpayers”.
[F. No. 31013/16/2017-ST-I-DoR] RAJENDRA KUMAR JATAV, Under Secy.
Note: The principal rules were published in Gazette of India, Extraordinary, Part- II, Section 3, Sub-Section (i), vide number G.S.R. 964(E), dated the 27th July, 2017 and first amendment published in the Gazette of India, Extraordinary, Part- II, Section 3, Sub-Section (i), vide Notification No. G.S.R. 145(E) dated the 6th February, 2018.
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