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of <h1>India Amends IGST Rate Schedule: New 1.5% Rate, Changes for Pre-Packaged Goods, Effective July 18, 2022.</h1> The Government of India has issued Notification No. 6/2022 to amend the Integrated Goods and Services Tax (IGST) rate schedule under Section 5(1) of the IGST Act, 2017. This amendment modifies Notification No. 1/2017, introducing changes across various schedules, including adjustments to tax rates and descriptions of goods. Notable amendments include the introduction of a new Schedule VII with a 1.5% rate, changes in the classification of pre-packaged and labeled goods, and updates on specific items like curd, lassi, and jaggery. The notification is effective from July 18, 2022.
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