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Taxation Tamil Nadu Ministry of Finance Tamil Nadu Goods and Services Tax Act, 2017

Tamil Nadu Goods and Services Tax (Second Amendment) Rules, 2023

08-Dec-2023 | G.O. Ms. No. 133

Government of Tamil Nadu has issued Tamil Nadu Goods and Services Tax (Second Amendment) Rules, 2023, effective from 26th October 2023.

The key highlights are:

1. Rule 28 shall be renumbered as sub-rule (1) and after the sub-rule is so renumbered, the following sub-rule shall be inserted, namely:
Notwithstanding anything contained in sub-rule (1), the value of supply of services by a supplier to a recipient who is a related person, by way of providing a corporate guarantee to any banking company or financial institution on behalf of the said recipient, shall be deemed to be one percent of the amount of such guarantee offered, or the actual consideration, whichever is higher.

2. In the said rules, in rule 142, in sub-rule (3), for the words proper officer shall issue an order, the words proper officer shall issue an intimation? shall be substituted.

3. In the said rules, in rule 159, in sub-rule (2), after the words Commissioner to that effect, the words or on expiry of a period of one year from the date of issuance of an order under sub-rule (1), whichever is earlier, shall be inserted.

For detailed information, please refer to the attached document.

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