GST Amendment: Updates in Tax Rates and Definitions

Government amends GST rates and definitions under notification No.12/2017 - Central Tax (Rate).

New provisions inserted for services related to FIFA U-17 World Cup 2017 events, certified by the Director (Sports).

Services provided by Fair Price Shops under Public Distribution System (PDS) now exempt from GST. Changes made to weather-based crop insurance schemes and agricultural insurance schemes.

Limited Liability Partnerships (LLPs) now considered as partnerships or firms for tax purposes. Amendment aimed at clarifying tax treatment and streamlining regulations. Reflects government's responsiveness to industry needs and evolving economic landscape.