Section 117 - Retrospective exemption from, or levy or collection of central tax in certain cases
Section 117: Retrospective Exemption for Central Tax on Unintended Waste from Fish Meal Production
This section provides a retrospective exemption from central tax for unintended waste produced during the manufacturing of fish meal, excluding fish oil, under heading 2301. This exemption applies to the period from July 1, 2017, to September 30, 2019. The Government of India's Ministry of Finance issued a notification on June 28, 2017, based on recommendations from the Council, under the Central Goods and Services Tax Act, 2017. Despite this notification, the central tax will not be levied or collected for the specified period for the unintended waste generated during fish meal production. Additionally, if any tax was collected during this period that should not have been, no refunds will be issued for those amounts. Essentially, this section ensures that businesses involved in fish meal production are not retrospectively taxed for unintended waste, providing clarity and relief for the specified timeframe.
Note: It is an AI generated summary for reference purpose only.
Retrospective exemption from, or levy or collection of central tax in certain cases.
117. (1) Notwithstanding anything contained in the notification of the Government of India in the Ministry of Finance (Department of Revenue) number G. S. R. 673(E), dated the 28th June, 2017 issued by the Central Government, on the recommendations of the Council, in exercise of the powers under sub-section (1) of section 9 of the Central Goods and Services Tax Act, 2017, no central tax shall be levied or collected in respect of supply of unintended waste generated during the production of fish meal (falling under heading 2301), except for fish oil, during the period commencing from the 1st day of July, 2017 and ending with the 30th day of September, 2019 (both days inclusive) .
(2) No refund shall be made of all such tax which has been collected, but which would not have been so collected, had sub-section (1) been in force at all material times.
