State tax rates notified for intra State supplies under GST; six specified rate schedules now applicable to listed goods. The Governor, on Council recommendation and under section 9(1) of the Punjab GST Act, 2017, notifies state tax rates for intra State supplies of goods by reference to six appended Schedules: Schedule I at a concessional rate for many primary foodstuffs, basic edible products, certain raw materials and specified medical and assistive goods; Schedule II and III at higher rates for processed foods, chemicals, fertilizers, industrial inputs and various manufactured goods; Schedule IV for a further higher set of finished and luxury goods; Schedule V for precious metals and jewellery; Schedule VI for unworked precious stones and diamonds. Definitions for 'unit container' and 'registered brand name' and Customs Tariff interpretive rules apply.
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State tax rates notified for intra State supplies under GST; six specified rate schedules now applicable to listed goods.
The Governor, on Council recommendation and under section 9(1) of the Punjab GST Act, 2017, notifies state tax rates for intra State supplies of goods by reference to six appended Schedules: Schedule I at a concessional rate for many primary foodstuffs, basic edible products, certain raw materials and specified medical and assistive goods; Schedule II and III at higher rates for processed foods, chemicals, fertilizers, industrial inputs and various manufactured goods; Schedule IV for a further higher set of finished and luxury goods; Schedule V for precious metals and jewellery; Schedule VI for unworked precious stones and diamonds. Definitions for "unit container" and "registered brand name" and Customs Tariff interpretive rules apply.
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