MGST rate amendments revise goods' tax classifications and applicable state GST rates, altering schedule entries and conditions. The notification amends the principal State Tax (Rate) notification by revising Schedules I-IV: inserting, omitting and renumbering tariff entries; substituting product descriptions; and adding valuation guidance treating bundled supplies of certain goods with a taxable service as a specified portion of gross consideration. The changes reclassify specified goods across the 2.5%, 6%, 9% and 14% rate schedules and come into force on the effective date stated in the notification.
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MGST rate amendments revise goods' tax classifications and applicable state GST rates, altering schedule entries and conditions.
The notification amends the principal State Tax (Rate) notification by revising Schedules I-IV: inserting, omitting and renumbering tariff entries; substituting product descriptions; and adding valuation guidance treating bundled supplies of certain goods with a taxable service as a specified portion of gross consideration. The changes reclassify specified goods across the 2.5%, 6%, 9% and 14% rate schedules and come into force on the effective date stated in the notification.
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