The Central Board of Indirect Taxes and Customs (CBIC) on October 19, 2023, issued a notification regarding supplies not eligible for a refund of unutilized ITC under the UTGST Act.
Hereby makes the further amendments in the notification of the Government of India, in the Ministry of Finance (Department of Revenue) No. 15/2017- Union Territory Tax (Rate), dated June 28, 2017.
In the said notification, in the opening paragraph, for the words, brackets, letters, and figures “specified in sub-item (b) of item 5 of Schedule II of the Central Goods and Services Tax Act”, the words, “of construction of a complex, building or a part thereof, intended for sale to a buyer, wholly or partly, where the amount charged from the recipient of service includes the value of land or undivided share of land, as the case may be, except where the entire consideration has been received after issuance of completion certificate, where required, by the competent authority or after its first occupation, whichever is earlier”, shall be substituted.
This notification shall come into force with effect from October 20, 2023
[Notification No. 15/2023- Union Territory Tax (Rate)]
