The Central Board of Indirect Taxes and Customs (CBIC) vide notification no. No. 07/2023- Central Tax (Rate) G.S.R. 540(E), No. 07/2023-Integrated Tax (Rate) G.S.R. 541(E), and No. 07/2023-Union Territory Tax (Rate) G.S.R. 542(E) issued on 26th July 2023 has notified the amendment of Goods and Services Tax (GST) exemption on Satellite Launch Vehicles.
The 50th GST Council meeting held on 11th July 2023 has recommended the GST exemption of the launching services of Satellite vehicles.
Central Tax (Rate)
In exercise of the powers conferred by sub-sections (3) and (4) of section 9, sub-section (1) of section 11, sub-section (5) of section 15 and section 148 of the Central Goods and Services Tax Act, 2017, the Central Government, on the recommendations of the Council, amended the notification of the Government of India, Ministry of Finance (Department of Revenue), No.12/2017-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. 691(E), dated the 28th June, 2017, namely:—
In the said notification, in the Table, against serial number 19C, for the entry in column (3), the entry ‘Satellite Launch Services’ shall be substituted.
Integrated Tax (Rate)
In accordance with the powers granted under sub-section (3) and sub-section (4) of section 5, subsection (1) of section 6, and clause (xxv) of section 20 of the Integrated Goods and Services Tax Act, 2017, along with sub-section (5) of section 15 and section 148 of the Central Goods and Services Tax Act, 2017, the Central Government, after being convinced of the necessity in the public interest, and based on the recommendations of the Council, hereby introduced the amendment to the notification issued by the Government of India, Ministry of Finance (Department of Revenue) No.9/2017-Integrated Tax (Rate), dated 28th June 2017.
In the said notification, in the Table, – (a) against serial number 20C, for the entry in column (3), the ‘Satellite Launch Services’ shall be substituted.
Union Territory Tax (Rate)
By virtue of the powers conferred under sub-sections (3) and (4) of section 7, sub-section (1) of section 8, and clause (iv) and clause (xxvii) of section 21 of the Union territory Goods and Services Tax Act, 2017, along with sub-section (5) of section 15 and section 148 of the Central Goods and Services Tax Act, 2017, the Central Government, after being convinced of the necessity in the public interest, and based on the recommendations of the Council, amended the notification issued by the Government of India, Ministry of Finance (Department of Revenue), No.12/2017-Union Territory Tax (Rate), dated 28th June 2017.
In the said notification, in the Table, against serial number 19C, for the entry in column (3), the ‘Satellite Launch Services’ shall be substituted.
This notification shall come into force with effect from 27th July,2023.
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