GST Notification: Significant Amendments in Tax Rates and Services

Government's Authority: G.S.R. (E) exercises powers under sub-sections (3) and (4) of section 9, sub-section (1) of section 11, sub-section (5) of section 15, and section 148 of the CGST Act, 2017.

Amendments in Notification No.12/2017-Central Tax (Rate): Modifications made to enhance public interest, based on recommendations from the Council.

Changes in the Table: Serial number 6: Exclusion of specific services like speed post, express parcel post, life insurance, and agency services not provided to the Central Government, State Government, or Union territory. Serial numbers 7, 8, and 9: Similar exclusions as mentioned above.

Residential Dwelling Services (Serial Number 12): Clarification added: The exemption does not apply when the residential dwelling is rented to a registered person.

Omitted Entries: Serial number 14: Complete removal of the entry and related details. Serial numbers 15, 20, 21: Removal of specific clauses from column (3).

Air Travel in Specific Regions (Serial Number 15): Alteration in column (3) to specify air travel in economy class embarking from or terminating in specified states and airports.

Modification in Serial Number 24B: Substitution of entries in column (3) for better clarity and understanding.

Note: Businesses and individuals affected by these changes should review and adjust their tax compliance strategies accordingly.