Circular No. 76/50/2018 issued by Central Board of Indirect Taxes and Customs.
Dear all,
Your association SIMA is forwarding herewith the Circular No. 76/50/2018-GST dated 31st December 2018 issued by Central Board of Indirect Taxes and Customs, GST Policy Wing, Department of Revenue, Ministry of Finance, Government of India. The soft copy of the circular is enclosed herewith.
Vide the said circular, Central Board of Indirect Taxes and Customs (CBIC) has issued clarification on various issues like sale by government departments to unregistered person, levy ability of penalty under section 73(11) of the CGST Act, rate of tax in case of debit notes/credit notes issued under section 142(2) of the CGST Act, applicability of notification No. 50/2018-Central Tax, valuation methodology in case of TCS under Income Tax Act and definition of owner of goods related to GST.
Please go through the attached Circular.
This is for your kind information.
Thanking you,
With regards,
For Silvassa Industries & Manufacturers Association
Narendra Trivedi
Secretary
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