GST Update: More Clarity on Refined Sugar Taxation
Recent Amendment:
Changes in Notification No. 2/2017-Central Tax (Rate) provide specific details regarding the taxation of Rab (a form of refined sugar).
Focus on Schedule Item:
Modification in Schedule, particularly S. No. 94, Column (3).
New Inclusion:
Addition of "(iii) Rab, other than pre-packaged and labelled" after item (ii).
Effective Date:
The updated notification is applicable from 1st March 2023.
Objective:
Bring clarity to the taxation of Rab (refined sugar) by specifying its status regarding pre-packaging and labelling.
Legislative Background:
Notification No. 2/2017-Central Tax (Rate) was initially published on 28th June 2017, last amended on 30th December 2022 (Notification No. 13/2022 –Central Tax).
Note: For comprehensive details, refer to the official gazette for Notification No. 2/2017-Central Tax (Rate).