Central Government's Decree:
The Central Government, exercising powers under section 6 of the IGST Act, 2017, issues key amendments to the Integrated Tax (Rate) notification.
Modification in Goods Classification:
Notable changes in goods classification as per the amendment; entry "4414" replaces the existing entry against Serial No. 4.
Revised Entry for Specific Category:
Column (2) for Serial No. 29 sees the substitution of the entry "7419 80" in alignment with the government's agenda.
Effective Date - January 1, 2022:
The amended rates and classifications are set to be effective from January 1, 2022.
Public Interest as a Driving Force:
The government's satisfaction of necessity in public interest underscores a dynamic approach to taxation for the benefit of the public.
Simplified Regulatory Update:
Under Secretary Rajeev Ranjan's notification streamlines the information, ensuring clarity and simplicity in communicating regulatory updates.
Ensuring Comprehension for the Common Citizen:
The concise presentation aims to facilitate easy comprehension for the average citizen, reflecting the government's commitment to transparent communication.