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Panaji, 14th February, 2019 (Magha 25, 1940)
SERIES I No. 46
Reg. No. G-2/RNP/GOA/32/2018-20
RNI No. GOAENG/2002/6410
PUBLISHED BY AUTHORITY
Suggestions are welcomed on e-mail: dir–[email protected]
GOVERNMENT OF GOA
Department of Finance
Revenue & Control Division
__
38/1/2012-Fin (R&C)/2252
Order No. 01/2019-State Tax
Whereas, sub-section (1) of section 10 of the
Goa Goods and Services Tax Act, 2017 (Goa
Act 4 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, 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 sub-section (1), he is not engaged in the
supply of services;
EXTRAORDINARY
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 Goa Goods and
Services Tax Act, 2017 and in supersession of
the Goa Goods and Services Tax (Removal of
Difficulties) Order, 2017, No. 01/2017-State Tax,
dated the 24th October, 2017, published in the
Extraordinary Official Gazette, Series I No. 30,
dated the 24th October, 2017, except as
respects things done or omitted to be done
before such supersession, the Government, on
recommendations of the Council, hereby
makes the following Order, namely:–
1. Short title.— This Order may be called
the Goa Goods and Services Tax (Removal of
Difficulties) Order, 2019.
2. For the removal of difficulties, it is hereby
clarified that the value of supply of exempt
services by way of extending deposits, loans
or advances in so far as the consideration is
represented by way of interest or discount,
shall not be taken into account—
OFFICIAL GAZETTE — GOVT. OF GOA
SERIES I No. 46
(EXTRAORDINARY)
14TH FEBRUARY, 2019
2650
(i) for determining the eligibility for
composition scheme under second proviso
to sub-section (1) of section 10;
(ii) in computing aggregate turnover in
order to determine eligibility for composition
scheme.
3. This notification shall deemed to have
come into force with effect from the 1st day of
February, 2019.
By order and in the name of the Governor
of Goa.
Sushama D. Kamat, Under Secretary,
Finance (R&C).
Porvorim, 11th February, 2019.
————
Corrigendum
38/1/2017-Fin(R&C)(26/2018-Rate)(Corri.)/
/2252
In the Government notification No. 38/1/
/2017-Fin(R&C)(26/2018-Rate), dated 31st
December,
2018,
published
in
the
Extraordinary Official Gazette No. 2, Series I
No. 39 dated 31st December, 2018, at page
2363, in line 23, for “32” read “34”.
By order and in the name of the Governor
of Goa.
Sushama D. Kamat, Under Secretary,
Finance (R&C).
Porvorim, 11th February, 2019.
————
Debt Management Division
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Notification
5-5-2018-Fin(DMU)
Government of Goa hereby notifies the sale
of Goa Government Stock (Securities) of
10-year tenure for an aggregate amount of
Rs. 100.00 crore (Nominal). The sale will be
subject to the terms and conditions spelt out
in this notification (called specific notification)
as also the terms and conditions specified in
the General Notification No. 5/2/2010-Fin (DMU)
dated July 18, 2007 of Government of Goa.
Object of the Loan
1. (i) The proceeds of the loans will be
utilized for financing capital expenditure
in connection with the development
programmes of the Government of Goa.
(ii) Consent of Central Government has
been obtained to the floatation of this loan as
required by Article 293(3) of the Constitution
of India.
Method of issue
2. Government stock will be sold through
the Reserve Bank of India, Mumbai Office
(PDO) Fort, Mumbai - 400 001 by auction in
the manner as prescribed in paragraph 6.1
of the General Notification No. 5/2/2010/Fin
(DMU) dated July 18, 2007 at a coupon rate
to be determined by the Reserve Bank of
India at the yield based auction under
multiple price formats.
Allotment to Non-competitive Bidders
3. The Governments stock up to 10% of the
notified amount of the sale will be
allotted to eligible individuals and institutions
subject to a maximum limit of 1% of the
notified amount for a single bid as per the
Revised Scheme for Non-competitive Bidding
Facility in the Auctions of State Government
Securities of the General Notification
(Annexure II).
Place and Date of Auction
4. The auction will be conducted by the
Reserve Bank of India, at its Mumbai Office,
Fort, Mumbai 400 001 on February 18, 2019.
Bids for the auction should be submitted in
electronic format on the Reserve Bank of
India Core Banking Solution (E-Kuber) system
as stated below on February 18, 2019.
(a) The competitive bids shall be
submitted electronically on the Reserve
Bank of India Core Banking Solution
(E-Kuber) system between 10:30 a.m. and
12:00 p.m.
OFFICIAL GAZETTE — GOVT. OF GOA
SERIES I No. 46
(EXTRAORDINARY)
14TH FEBRUARY, 2019
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(b) The non-competitive bids shall be
submitted electronically on the Reserve
Bank of India Core Banking Solution
(E-Kuber) system between 10.30 a.m. and
11.30 a.m.
Result of the Auction
5. The result of the auction shall be
displayed by the Reserve Bank of India
on its website on the same day. The
payment by successful bidders will be on
February 20, 2019.
Method of Payment
6. Successful bidders will make payments
on February 20, 2019 before close of banking
hours by means of cash, bankers’ cheque/
/pay order, demand draft payable at Reserve
Bank of India, Mumbai/Mumbai or a cheque
drawn on their account with Reserve Bank
of India, Mumbai (Fort)/Mumbai.
Tenure
7. The stock will be of 10-year tenure. The
tenure of the stock will commence on
February 20, 2019.
Date of Repayment
8. The loan will be repaid at par on
February 20, 2029.
Rate of Interest
9. The cut-off yield determined at the
auction will be the coupon rate percent per
annum on the stock sold at the auction.
The interest will be paid on August 20 and
February 20.
Eligibility of Securities
10. The investment in Government Stock
will be reckoned as an eligible Investment in
Government Securities by banks for the
purpose of Statutory Liquidity Ratio (SLR)
under section 24 of the Banking Regulation
Act, 1949. The stocks will qualify for the ready
forward facility.
By order and in the name of the Governor
of Goa.
Daulat A. Hawaldar, Secretary (Finance).
Porvorim, 14th February, 2019.
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