Retrospective Amendments of GST rate notifications

S.No.

Amendment

Clause of the Finance Bill, 2020

1.

Exemption from Central Tax, Union Territory Tax and Integrated Tax for fishmeal [HS 2301], for the period 01.07.2017 to 30.09.2019, subject to the condition that if GST has been paid, the same would not be eligible for refund.

[130, 133 and 137]

2.

Levy of 12% rate of Integrated Tax and 6% Central Tax and 6% Union Territory Tax during the period 01.07.2017 to 31.12.2018, on pulley, wheels and other parts (falling under heading 8483) and used as parts of agricultural machinery of headings 8432, 8433, and 8436, subject to the condition that if GST has been paid, the same would not be eligible for refund.

[130, 133 and 137]

3.

The refund of accumulated credit of compensation cess on tobacco products arising out of inverted duty structure in compensation cess is disallowed with effect from 01.10.2019 vide notification No. 3/2019-Compensation Cess (Rate) dated 30.9.2019. This notification is being given retrospective effect from 1.7.2017 onwards. Accordingly, no refund on account of inverted duty structure would be admissible' on any tobacco products.

[131]