Notification No. 1/2022 – Compensation Cess: Seeks to bring into force the Goods and Services Tax (Period of Levy and Collection of Cess) Rules, 2022

Important Keyword: Notification No. 1/2022 – Compensation Cess, Section 12(2) GST Act 2017, Section 8 GST Act 2017.

[F. No. S-31011/11/2022-ST-II-DOR]
MINISTRY OF FINANCE
(Department of Revenue)

New Delhi, the 24th June, 2022

Notification No. 1/2022 – Compensation Cess

G.S.R. 468(E).—In exercise of the powers conferred by sub-section (2) of section 12 read with section 8 of the Goods and Services Tax (Compensation to States) Act, 2017 (15 of 2017), the Central Government on the recommendations of the Council hereby makes the following rules, namely:-

Short title and commencement GST. –

1. (1) These rules may be called the Goods and Services Tax (Period of Levy and Collection of Cess) Rules, 2022.
   (2) They shall come into force with effect from the 1^st day of July, 2022.

Period for levy and collection of Cess.-

2. The period for levy and collection of cess under sub-section (1) of section 8 of the Goods and Services Tax (Compensation to States) Act, 2017 shall be upto the 31^st March, 2026.

MAHENDRA NATH, Under Secy.

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Download Pdf: https://taxinformation.cbic.gov.in/