Government Notification:
Central Government, in line with Council recommendations, announces amendments to Union Territory Goods and Services Tax (UGST) rates.
Specific Rate Changes:
Modification in entry numbers 4 and 29, with updated Harmonized System of Nomenclature (HSN) codes.
Effective Date:
The amendments will be effective from January 1, 2022, providing clarity on the commencement date.
HSN Code Substitutions:
Entry for HSN code 4414 substituted for serial number 4, and HSN code 7419 80 substituted for serial number 29.
Statement by Rajeev Ranjan:
The amendments are signed and confirmed by Rajeev Ranjan, reinforcing transparency and accountability.
Simplified Language:
Utilization of straightforward language ensures easy comprehension for businesses and taxpayers.
Harmonization with Global Standards:
Aligning HSN codes with global standards promotes consistency and facilitates international trade.