In exercise of the powers conferred by clause (ii) of the proviso to sub-section (3) of section 54 of the Karnataka Goods and Services Tax Act, 2017 (Karnataka Act 27 of 2017), the Government of Karnataka, on the recommendations of the Council, hereby makes the following further amendments in the notification (05/2017) No. FD 48 CSL 2017 of the Government of Karnataka, dated the 29thJune, 2017, published in the Karnataka Gazette, Extraordinary, Part-IVA, Number 595, dated the 29thJune, 2017, namely:-

In the said notification, in the opening paragraph, the following proviso shall be inserted, namely,

"Provided that,-

(i) nothing contained in this notificationshall apply to the input tax credit accumulated on supplies received on or after the 1st day of August, 2018, in respect of goods mentioned at serial numbers1, 2, 3, 4, 5, 6, 6A, 6B, 6C and 7 of the Table below;and

(ii) in respect of said goods, any unutilised input tax credit lying in balance,after payment of taxfor and upto the month of July, 2018,on theinward supplies received up to the 31st day of July 2018, shall lapse.".

2. This Notification shall come into force with effect from 27th of July, 2018.

By Order and in the name of the Governor of Karnataka,

K.S.PADMAVATHI

Under Secretary to Government,

Finance Department (C.T.-l).