Notification No 15/2018 Central Tax (Rate) : Direct Selling Agents Services under Reverse Charge

By | July 27, 2018
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(Last Updated On: August 4, 2018)

Notification No 15/2018 Central Tax (Rate)

Summary of Notification No 15/2018 Central Tax (Rate)

Notification No 15/2018 Central Tax (Rate) Dated 26 th July, 2018 Seeks to amend notification No. 13/2017- Central Tax (Rate) so as to specify services supplied by individual Direct Selling Agents (DSAs) to banks/ non-banking financial company (NBFCs) to be taxed under Reverse Charge Mechanism (RCM).

Read Notification No 15/2018 Central Tax (Rate)

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II,
SECTION 3, SUB-SECTION (i)]
Government of India
Ministry of Finance
(Department of Revenue)
Notification No. 15/2018- Central Tax (Rate)
New Delhi, the 26 th July, 2018

GSR……(E).- In exercise of the powers conferred by sub-section (3) of section 9 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council, hereby makes the following further amendments in the notification of the Government of India, in the Ministry of Finance (Department of Revenue), No.13/2017- Central Tax (Rate), dated the 28thJune, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 692(E), dated the 28thJune,
2017, namely:-

In the said notification, –

(i)in the Table, after serial number 10 and the entries relating thereto, the following serial number and entries shall be inserted, namely:—
(1)(2)(3)(4)
“11Services supplied by individual Direct Selling Agents (DSAs) other than a body corporate, partnership or limited liability partnership firm to bank or non-banking financial company (NBFCs).Individual Direct Selling Agents (DSAs) other than a body corporate, partnership or limited liability partnership firm.A banking company or a non-banking financial company, located in the taxable territory.”;
(ii)in the Explanation, after clause (f), the following clause shall be inserted, namely:—
‘(g) “renting of immovable property” means allowing, permitting or granting access, entry, occupation, use or any such facility, wholly or partly, in an immovable property, with or without the transfer of possession or control of the said immovable property and includes letting, leasing, licensing or other similar arrangements in respect of immovable property.’.

2. This notification shall come into force with effect from 27th of July, 2018.

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Notification No 15/2018 Central Tax (Rate)

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