The Mizoram Gazette — The Mizoram Goods and Services Tax Act, 2017

The Mizoram Gazette EXTRA ORDINARY Published by Authority RNI No. 27009/1973 Postal Regn. No. NE-313(MZ) 2006-2008 VOL - XLVIII Aizawl, Monday 25.3.2019 Chaitra 4, S.E. 1941, Issue No. 173 NOTIFICATION No J.2101l/l/2019(i)-TAX, the 12 th March, 2019. WHEREAS, sub-section (I) of section 10 of the Mizoram Goods and Services Tax Act. 2017 (6 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 subsection; (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, 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), if, save as otherwise provided in subsection( I). 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 have arisen in giving effect to the provisions of section 10; NOW, THEREFORE, in exercise of the powers conferred by section 172 of the Mizoram Goods and Services Tax Act. 2017 and in supersession of the Mizoram Goods and Services Tax (R