Notification No. 20/2018 issued on 26/7/2018 by Govt of India ammending the earlier Notification.
Dear All,
This is to inform all the industrial colleagues that, Government has decided to refund the accumulated credits on inputs against outward supplies of fabric vide Notification 20/2018-Central Tax(rate) dated 26-07-2018. This notification 20/2018 has been issued as amendment of Notification 5/2017-Central Tax (Rate) dated 28-06-2017. So all the colleagues industries are requested to go through both the notifications attached herewith.
The concerned industries particularly weavers and knitters are requested to study the sale notification no. 20/2018 and send their grievances and issues which shall be faced by them due to the lapse of credit laying with them at the end of July 2018.
For your information, a representation from Northern India Chamber of Commerce & Industry to Hon’ble Finance Minister is attached herewith, by which the chamber has highlighted the issue which shall be faced by the industries due to the lapse of credits on inputs against outward supplies of fabric as per Notification 20/2018-Central Tax(rate) dated 26-07-2018.
All the colleague industry are hereby requested to go through all the attachments and understand the implications of the amendment on the industry.
Please forward your feedback, and grievances to enable your association SIMA to take up the matter with appropriate authority.
This is for your kind information.
Thanking you,
With regards,
For Silvassa Industries & Manufacturers Association
Narendra Trivedi
Secretary
