Government Amends Compensation Cess Rates
Scope of Amendment: Notification No. 1/2017 on Compensation Cess Rates is updated under the Goods and Services Tax Act.
Schedule Adjustments: Entries against serial numbers 25, 37, 38, and 54 are modified to reflect specific tariff item substitutions.
Effective Date: The amendment takes effect from January 1, 2022, ensuring timely implementation.
Recommendations by the Council: Changes enacted based on recommendations from the Council, aimed at optimizing the tax structure.
Administrative Details: Issued by the Ministry of Finance, Department of Revenue, under official notification.
Publication Reference: Original notification published in the Gazette of India, with previous amendments duly noted.
(Rajeev Ranjan) Under Secretary to the Government of India
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