GST Amendment: Revised Taxation on Animal Feed and Pulses
Legal Modification:
G.S.R (E) invokes powers under section 11 of the CGST Act, 2017, amending the June 28, 2017, notification (No. 2/2017-Central Tax).
Revised Entry:
S. No. 102 sees an alteration, clarifying that aquatic feed (including shrimp and prawn feed), poultry feed, and cattle feed, along with related items, fall under the specified category.
New Inclusion:
Introduces S. No. 102C, covering husk of pulses, concentrates (chuni or churi), and Khanda, addressing clarity on their GST categorization.
Effective Date:
The amendment takes effect from January 1, 2023, providing stakeholders time to adjust to the updated taxation framework.
Specific Inclusions:
The revision focuses on aquatic feed, poultry feed, cattle feed, husk of pulses, and related items, streamlining their GST classification.
Government's Intent:
The change aligns with the government's commitment to refining tax classifications for improved accuracy and transparency.
Previous Amendments:
Acknowledges that the original notification has been subject to previous amendments, ensuring a comprehensive understanding of the evolving tax framework.
Note: The amendment aims to streamline taxation rules related to animal feed and pulses, fostering transparency and compliance.