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of <h1>Assam Revises GST Rates: Tax Rate Reduced to Half Percent on Turnover of Taxable Supplies of Goods.</h1> The Government of Assam has issued amendments to the Finance (Taxation) Department's notification No.FTX.56/2017/34 from June 2017, under the Assam Goods and Services Tax Act, 2017. Effective from January 1, 2018, the amendments include changes in the tax rate and its application. In clause (i), the tax rate is revised from 'one per cent' to 'half per cent.' In clause (iii), the phrase 'half per cent. of the turnover' is updated to 'half per cent of the turnover of taxable supplies of goods.' These amendments were enacted on the recommendations of the Council.
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