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of <h1>India's Finance Ministry Sets GST Compensation Cess Rates for Goods; Includes Exemptions Effective July 1, 2017.</h1> The Government of India, under the Ministry of Finance, issued Notification No. 1/2017 on June 28, 2017, detailing the rates of Goods and Services Tax (GST) compensation cess applicable under the GST (Compensation to States) Act, 2017. The notification specifies the cess rates for various goods, such as pan masala, aerated waters, tobacco products, motor vehicles, and coal, among others. The rates are categorized based on the description and classification of goods under the Customs Tariff Act, 1975. The notification also includes provisions for exemptions and special conditions for certain goods, effective from July 1, 2017.
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