MM TAX CLUB

In 49th GST council meeting, conducted on 18th February 2023, the council had recommended Changes in GST rates of Goods and Services as follows;

Now vide notification no. 03/2023 -Central Tax (Rate) dated 28th February, 2023 CBI has notified the said provision, the extract of notification can be read as under;

Notification No. 03/2023-CentralTax (Rate)

—In exercise of the powers conferred by sub-section (1) of section 9 and sub-section (5) of section 15 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No.1/2017-Central Tax (Rate), dated the 28th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 673(E), dated the 28th June, 2017, namely: -

In the said notification, -

i. in Schedule I –2.5%, against S. No. 91A, in column (3), for the entry, the following entry shall be substituted, namely: -

            “Jaggery of all types including Cane Jaggery (gur), Palmyra Jaggery, pre-packaged and

labelled; Khandsari Sugar, pre-packaged and labelled; Rab, pre-packaged and labelled ”;

ii.  in Schedule II –6%, after S. No. 186 and entries relating thereto, the following S. No. and entries shall be inserted, namely: -

iii. in Schedule III –9%, against S. No. 302A, in column (3), at the end, the brackets and words “[other than pencil sharpeners]” shall be inserted.

This notification shall come into force on the 1^st day of March, 2023

Corresponding notification have been issued under Integrated Tax and Union Territory Tax to effect the same under respective act.

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