The Integrated Goods and Services Tax (Amendment) Bill, 2018
The Integrated Goods and Services Tax (Amendment) Bill, 2018
In the session of the Parliament on 9th August 2018, “The Integrated Goods and Services Tax (Amendment) Bill, 2018” has been passed. Following is the text of the Bill:
BE it enacted by Parliament in the Sixty-ninth Year of the Republic of India as follows:––
1. (1) This Act may be called the Integrated Goods and Services Tax (Amendment) Act, 2018.
(2) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint:
Provided that different dates may be appointed for different provisions of this Act and any reference in any such provision to the commencement of this Act shall be construed as a reference to the coming into force of that provision.
2. In section 2 of the Integrated Goods and Services Tax Act, 2017 (hereinafter referred to as the principal Act),––
(i) in clause (6), in sub-clause (iv), after the words “foreign exchange”, the words “or in Indian rupees wherever permitted by the Reserve Bank of India” shall be inserted;
(ii) in clause (16), in the Explanation, in the long line, after the words “function entrusted”, the words, figures and letter “to a Panchayat under article 243G or” shall be inserted.
3. In section 5 of the principal Act, for sub-section (4), the following sub-section shall be substituted, namely:––
“(4) The Government may, on the recommendations of the Council, by notification, specify a class of registered persons who shall, in respect of the supply of specified categories of goods or services or both received from an unregistered supplier, pay the tax on reverse charge basis as the recipient of such supply of goods or services or both, and all the provisions of this Act shall apply to such recipient as if he is the person liable for paying the tax in relation to such supply of goods or
services or both.”.
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