Seeks to amend Notification No. 3 [FTX.56/2017/16 dated the 29th June, 2017], dated the 29th June, 2017 - FTX.56/2017/Pt-I/271 - Assam SGST

GOVERNMENT OF ASSAM ORDERS BY THE GOVERNOR FINANCE (TAXATION) DEPARTMENT NOTIFICATION-STATE TAX (RATE) The 30th December, 2019 No. FTX.56/2017/Pt-I/271. - In exercise of the powers conferred by sub-section (1) of section 11 of the Assam Goods and Services Tax Act, 2017 (Assam Act No. XXVIII of 2017), the Governor of Assam is pleased to hereby makes the following amendments in the notification of the Finance (Taxation) Department, Government of Assam, No. 3 [FTX.56/2017/16 dated the 29th June, 2017], published in the Assam Gazette, Extraordinary, vide No. 337 dated the 29th June, 2017, as amended from time to time, namely : - In the said notification, in the ANNEXURE, against Condition No. 1, after sub-clause (ii) of clause (d), the following items shall be inserted with effect from the 1 st of July, 2019, namely : - ANNEXURE Condition No. Conditions 1. (iii) a certificate,- (A) in the case of a petroleum exploration license or mining lease, as the case may be, granted by the Government of India or any State Government on nomination basis, that no foreign exchange remittance is made for the transfer of such goods undertaken by the transferee on behalf of the licensee or lessee, as the case may be; (B) in the case of a contract entered into by the Government of India and a Foreign Company or Companies or, the Government of India and a consortium of an Indian Company or Companies and a Foreign Company or Companies, that no foreign exchange remittance is made for the transfer of such goods undertaken by the transferee on behalf of the Foreign Company or Companies, as the case may be: Provided that nothing contained in this sub-clause shall apply if such transferee is an Indian Company or Companies. (e) where the goods so supplied are sought to be disposed of, the recipient of outward supply or the transferee, as the case may be, may pay the tax which would have been payable but for the exemption contained herein, on the depreciated value of such goods subject to the condition that the recipient of outward supply or the transferee, as the case may be, produces before the Deputy Commissioner of Central tax or the Assistant Commissioner of Central tax or the Deputy Commissioner of State tax or the Assistant Commissioner of State tax, as the case may be, having jurisdiction over the supplier of goods, a certificate from a duly authorised officer of the Directorate General of Hydro Carbons in the Ministry of Petroleum and Natural Gas, Government of India, to the effect that the said goods are no longer required for the petroleum operations or coal bed methane operations, and the depreciated value of the goods shall be equal to the original value of the goods at the time of import reduced by the percentage points calculated by straight line method as specified below for each quarter Of a year or part thereof from the date of clearance of the goods, namely:- (i) for each quarter in the first year at the rate of4 per cent.; (ii) for each quarter in the second year at the rate of 3 per cent.; (iii) for each quarter in the third year at the rate of 2.5 per cent.; and (iv) for each quarter in the fourth year and subsequent years at the rate of 2 per cent., subject to the maximum of 70 per cent. RAJIV KUMAR BORA, Additional Chief Secretary to the Government of Assam, Finance Department.