TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (ii)] — LIST OF AMENDING ACTS

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (ii)] Government of India Ministry of Finance (Department of Revenue) [Central Board of Indirect Taxes and Customs] ORDER No. 01/2019 -Union Territory Tax New Delhi, the 1 st February, 2019 S.O.(E). --- WHEREAS, section 21 of the Union Territory Goods and Services Tax Act, 2017 (14 of 2017) read with sub-section (1) of section 10 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter in this Order referred to as the said Act) provides that(i) a registered person engaged in the supply of services , other than supply of service referred to in clause (b) of paragraph 6 of Schedule II to the said Act, may opt for the scheme under the said sub -section; (ii) a person who opts for the said scheme may supply services (other than those referred to in clause (b) of paragraph 6 of Schedule II to the said Act), of value not exceeding ten per cent. of turnover in a State or Union territory in the preceding financial year or five lakh rupees, whichever is higher; AND WHEREAS, section 21 of the Union Territory Goods and Services Tax Act, 2017 read with clause (a) of sub-section (2) of section 10 of the said Act provides that the registered person shall be eligible to opt under sub-section (1) of the said Act, if, save as otherwise provided in the said sub-section (1), he is not engaged in the supply of services; AND WHEREAS, rendering of services as part of the savings and investment practice of business, by way of extending deposits, loans or advances , in so far as the consideration is represented by way of interest or discount, is resulting in their ineligibility for the aforesaid scheme, causing hardships to a lot of small businesses and because of that, certain difficulties