Ministry of Finance extends the last date for exercising the option by promoters to pay tax at the old rates of 12% or 8% with ITC

May 13, 2019 | by Avantis RegTech Legal Research Team


The Ministry of Finance on May 10, 2019, has made amendment in the Notification No. 11/2017- Central Tax (Rate) dated June 28, 2017, regarding the rates for supply of services under Integrated Goods and Services Tax Act, to extend the date for exercising the option by promoters to pay tax at the old rates of 12% or 8% with Input Tax Credit (ITC) till May 20, 2019.

In the notification:

i.In the Table, against serial number 3, in items (ie) and (if), in the entries in column (5), for the figures and letters “10th”, wherever they occur, the figures and letters “20th ” shall be substituted;

ii.In Annexure IV, for the figures and letters “10th”, at both the places where they occur, the figures and letters “20th” shall be substituted. 

[Notification No. 10/2019- Central Tax (Rate)]

Click here to download the Notification.


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