Government Amends Compensation Cess Rates

Scope of Amendment: Notification No. 1/2017 on Compensation Cess Rates is updated under the Goods and Services Tax Act.

Schedule Adjustments: Entries against serial numbers 25, 37, 38, and 54 are modified to reflect specific tariff item substitutions.

Effective Date: The amendment takes effect from January 1, 2022, ensuring timely implementation.

Recommendations by the Council: Changes enacted based on recommendations from the Council, aimed at optimizing the tax structure.

Administrative Details: Issued by the Ministry of Finance, Department of Revenue, under official notification.

Publication Reference: Original notification published in the Gazette of India, with previous amendments duly noted.

(Rajeev Ranjan) Under Secretary to the Government of India