GST schedule amendments: revised tax classifications and rates take effect, altering goods' taxability and product-specific inclusions, substitutions, and omissions. State GST schedules are amended by inserting, substituting and omitting specific tariff entries and descriptions across Schedule I (2.5%), Schedule II (6%), Schedule III (9%) and Schedule IV (14%), reallocating goods to different rate bands, adding product-specific inclusions and carve-outs (for example ethyl alcohol for blending with motor spirit, bamboo flooring, lithium-ion batteries, refrigerators, washing machines and specified parts), refining unit-value thresholds and descriptive qualifiers, and declaring the amendments effective from 27th July, 2018.
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GST schedule amendments: revised tax classifications and rates take effect, altering goods' taxability and product-specific inclusions, substitutions, and omissions.
State GST schedules are amended by inserting, substituting and omitting specific tariff entries and descriptions across Schedule I (2.5%), Schedule II (6%), Schedule III (9%) and Schedule IV (14%), reallocating goods to different rate bands, adding product-specific inclusions and carve-outs (for example ethyl alcohol for blending with motor spirit, bamboo flooring, lithium-ion batteries, refrigerators, washing machines and specified parts), refining unit-value thresholds and descriptive qualifiers, and declaring the amendments effective from 27th July, 2018.
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