In exercise of the powers conferred by section 164 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government hereby makes the following rules further to amend the Central Goods and Services Tax Rules, 2017, namely:-
- (1) These rules may be called the Central Goods and Services Tax (Second Amendment) Rules, 2019.
(2) Save as otherwise provided in these rules, they shall come into force on the date of their publication in the official gazette.
- In the Central Goods and Services Tax Rules, 2017 (hereinafter referred to as the said rules), in rule 41, in sub-rule (1), after the proviso, the following explanation shall be inserted, namely: –
“Explanation: – For the purpose of this sub-rule, it is hereby clarified that the “value of assets” means the value of the entire assets of the business, whether or not input tax credit has been availed thereon.”.
- With effect from 1st April, 2019, in Rule 42 of the said rules,-