Notification No. 21/2021 - Integrated Tax (Rate)

Key Amendment in Indirect Taxation: The Central Government exercises powers under the IGST Act, 2017, recommending amendments superseding the previous notification (No.14/2021).

Schedule I Adjustment: Omission of serial number 225 and associated entries in Schedule I, affecting the tax rate of certain goods.

Introduction of Footwear Category: Schedule II sees a new entry, serial number 171A, introducing a 12% tax rate for footwear with a sale value not exceeding Rs.1000 per pair.

Effective Date - January 1, 2022: The amended rates and classifications are set to be effective from January 1, 2022.

Streamlining Taxation for Footwear: The specific inclusion of affordable footwear in Schedule II reflects an effort to streamline and rationalize tax rates, aligning with market dynamics.

Government's Commitment to Clarity: This move underscores the government's commitment to maintaining clarity and adapting tax structures to evolving economic scenarios.

Deputy Secretary's Approval: The notification, authorized by Deputy Secretary Gaurav Singh, signifies official government sanction for implementing tax amendments and maintaining regulatory order.