Government's Authority in Action:
The Central Government exercises its powers under section 6 of the IGST Act, 2017, bringing about crucial amendments to the Integrated Tax (Rate) notification.
Revised Entries in Schedule:
Notable changes include the substitution of entry "0303, 0304, 0305, 0306, 0307, 0308, 0309" against Serial No. 22, showcasing a refined classification approach.
Clarity in Nomenclature:
S. No. 43B sees a descriptive update, replacing the term "Vegetables provisionally preserved" with "Vegetables provisionally preserved, but unsuitable in that state for immediate consumption."
Specifics on Fresh Nuts:
Entry against S. No. 49 becomes more specific, delineating various fresh nuts such as Almonds, Hazelnuts, Walnuts, Chestnuts, Pistachios, Macadamia nuts, and more.
Inclusion of Tender Coconut Water:
A new entry, S. No. 97A, is introduced, outlining the taxation details for tender coconut water, considering brand aspects.
Omission of Entry at S. No. 101:
S. No. 101 and its related entries are omitted, streamlining the schedule for enhanced clarity.
Effective Implementation - January 1, 2022:
The amended provisions are slated to be effective from January 1, 2022, signifying the commencement of the regulatory changes.