Notification No. 01/2024-Compensation Cess (Rate): Seeks to provide exemption from Compensation Cess on supplies under heading 2202 by URCs to authorised customers.

Important Keyword: F. No. 190354/94/2024-TRU, Notification No. 01/2024-Compensation Cess (Rate), Section 11(1) CGST Act 2017, Section 11(1) GST Act 2017, Section 6(1) IGST Act 2017.

[F. No. 190354/94/2024-TRU]
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(Department of Revenue)

New Delhi, the 12^th July, 2024

Notification No. 01/2024-Compensation Cess (Rate)

GST [TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB- SECTION (i)]

G.S.R.  (E).-In exercise of the powers conferred by sub-section (1) of section 11 of the Central Goods and Services Tax Act, 2017 (12 of 2017), read with sub-section (1) of section 11 of the Goods and Services Tax (Compensation to States) Act, 2017 (15 of 2017) and sub-section (1) of section 6 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017), read with sub-section (2) of section 11 of the Goods and Services Tax (Compensation to States) Act, 2017 (15 of 2017),

the Central Government, on being satisfied that it is necessary in the public interest so to do, on the recommendations of the Council, hereby exempts supply of goods falling under the heading 2202 by a Unit Run Canteen (URC) to authorised customers, from the whole of the Goods and Services Tax Compensation Cess leviable thereon under section 8 of the Goods and Services Tax (Compensation to States) Act, 2017 (15 of 2017).

Explanation.–

• In this Notification, “tariff item”, “heading”, “sub-heading” and “Chapter” shall mean respectively a tariff item, heading, sub-heading and Chapter as specified in the First Schedule to the Customs Tariff Act, 1975 (51 of 1975).

• The rules for the interpretation of the First Schedule to the said Customs Tariff Act, 1975, including the Section and Chapter Notes and the General Explanatory Notes of the First Schedule shall, so far as may be, apply to the interpretation of this notification.

2.         The notification shall come into force with effect from the 15^th day of July, 2024.

(Nitish Karnatak)
Under Secretary

Read More: Seeks to amend Notification No 02/2017- Central Tax (Rate) dated 28.06.2017.

Download Pdf: https://taxinformation.cbic.gov.in/view-pdf/1010117/ENG/Notifications