Amends Notification No 05/2017-Central Tax (Rate)- To modify supplies of goods in respect of which no refund of unutilised input tax credit shall be allowed under section 54 (3) -To give effect to the recommendations of the GST Council in it’s 28th   

G.S.R.   (E).- In exercise of the powers conferred by clause (ii) of the proviso to sub-section (3) of section 54 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No.5/2017-Central Tax (Rate), dated the 28th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 677(E), dated the 28th June, 2017, namely:-

In the said notification, in the opening paragraph the following provison shall be inserted, namely:-

“Provided that,-

1. nothing contained in this notification shall apply to the input tax credit accumulated on supplies received on or after the 1^st day of August, 2018, in respect of goods mentioned at serial numbers 1, 2, 3, 4, 5, 6, 6A, 6B, 6C and 7 of the Table below; and
2. in respect of said goods, the accumulated input tax credit lying unutilised in balance, after payment of tax for and upto the month of July, 2018, on the inward supplies received up to the 31^st day of July 2018, shall lapse.”.

Note: - The principal notification No.5/2017-Central Tax (Rate), dated the 28th June, 2017 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 677(E), dated the 28th June, 2017 and last amended vide notification No. 44/2017-Central Tax(Rate) dated the 14^th November, 2017 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 1390(E), dated the 14th November, 2017.

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