Legal Authority:
G.S.R. (E) exercises powers under the Integrated Goods and Services Tax Act, 2017, amending tax rates for seamless regulation.
Amended Entry (S. No. 3A):
Essential oils, excluding citrus fruits, such as peppermint and other mints, witness revised tax rates based on the nature of the transaction (registered or unregistered person).
Applicability:
The amendment becomes effective from January 1, 2023, impacting the taxation of specified essential oils.
Specific Essential Oils Affected:
Oils like peppermint, spearmint, water mint, horsemint, and bergament, among others, fall under the revised tax regime.
Registration Distinction:
Tax rates vary for registered and unregistered entities, emphasizing compliance and the formalization of economic activities.
Principal Notification Background:
Contextualizes the amendment by highlighting the previous versions of the notification, providing a historical perspective.
Administrative Official:
The amendment is issued by Vikram Vijay Wanere, Under Secretary, signifying official authorization.
Note: These amendments aim to streamline the taxation of specific essential oils, fostering clarity and adherence to tax regulations.