CBIC Updates GST Rates on Goods Following 53rd GST Council Meeting Recommendations

CBIC Updates GST Rates on Goods Following 53rd GST Council Meeting Recommendations

Background:

The 53rd Meeting of the GST Council was held on June 22, 2024, in New Delhi, where changes to the GST rates of certain goods were recommended:

Notification:

The CBIC, via Notification No.02/2024 – Central Tax (Rate) dated July 12, 2024, exercised its powers under sub-section (1) of Section 9 and sub-section (5) of Section 15 of the CGST Act to amend Notification No.1/2017-Central Tax (Rate) dated June 28, 2017. The changes are effective from July 15, 2024, as follows:

Effect of the Notification:

The CBIC has amended the base GST rate notification, changing the GST rate for all milk cans made of steel, iron, and aluminium to 6% instead of 9%, reducing the GST rate for cartons, boxes, and cases of both corrugated and non-corrugated paper or paperboard to 6% instead of 9%, and setting the GST rate for all solar cookers to 6%.

Similar notifications have been issued under the Integrated Goods and Services Tax Act, 2017 (IGST Act) and the Union Territory Goods and Services Tax Act, 2017 (UTGST Act).

For Notification No.02/2024 – CGST (Rate), IGST (Rate), and UTGST (Rate):
CLICK HERE

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