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of <h1>Finance Ministry Amends IGST Tax Rates: Key Changes in Schedules I, II, III Effective April 1, 2020.</h1> The Ministry of Finance has issued Notification No. 03/2020 to amend Notification No. 1/2017-Integrated Tax (Rate) under the Integrated Goods and Services Tax Act, 2017. Effective from April 1, 2020, changes include the omission of certain serial numbers and entries in Schedules I, II, and III, which specify tax rates of 5%, 12%, and 18% respectively. Specifically, serial numbers 187 in Schedule I, 202 and 203 in Schedule II, and 73 in Schedule III are omitted. Additionally, a new entry 'All goods' is added to Schedule II and modified in Schedule III.
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