Union Territory GST Amendment: Changes in Tax Rates
Government Notification:
The Central Government, acting on the Council's recommendations, introduces amendments to the Union Territory Goods and Services Tax (UTGST) rates.
Omission in Schedule I:
Serial number 225 and related entries under Schedule I, with a tax rate of 2.5%, are omitted.
Addition in Schedule II:
A new entry, serial number 171A, is added under Schedule II, setting a 6% tax rate for footwear priced below Rs. 1000 per pair.
Effective Date:
The revised tax rates come into effect from January 1, 2022, providing clarity to businesses and consumers.
Deputy Secretary's Statement:
Gaurav Singh, Deputy Secretary to the Government of India, confirms the amendments, ensuring compliance with the UTGST Act.
Streamlined Process:
The changes simplify the tax structure, aiding businesses in understanding and adhering to the updated rates.
Transparent Communication:
The government communicates the amendments clearly, enhancing transparency and facilitating smooth implementation.