The Central Board of Indirect taxes & Customs (“CBIC”) has rescinds the N. No. 8/2017- CT (R), dated June 28, 2017 which exempts the supplies of goods or services or both received by a registered person (of value up to Rs. 5,000 per day) from any Unregistered supplier, from the whole of tax leviable as per section 9(4) i.e. Reverse Charge Mechanism of the CGST Act, 2017, w.e.f. February 01, 2019.
Note: Similar notification has been issued under UTGST Act and IGST Act as well. The said notification can be accessed as follows:
1. Central Tax (Rate): Notification No. 01/2019 – Central Tax (Rate)
2. Integrated Tax (Rate): Notification No. 01/2019 – Integrated Tax (Rate)
3. Union Territory Tax (Rate): Notification No. 01/2019 – Union Territory Tax (Rate)