GST rate amendments reclassify goods, add renewable energy and medical items, and adjust valuation for bundled supplies. The State Government amended Notification No.1/2017-State Tax (Rate) under the Telangana GST Act by inserting, substituting and omitting specified tariff entries across Schedules I-IV. Key changes reclassify agricultural and mineral goods, add medical and pharmaceutical items, introduce renewable energy devices with a rule deeming seventy per cent of gross consideration as goods value when bundled with specified taxable services, distinguish bio-diesel supplied to oil marketing companies, and add other new headings for railway equipment, printed matter, packaging and disability retrofit kits. The amendments alter rate-applicable lists and valuation guidance.
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GST rate amendments reclassify goods, add renewable energy and medical items, and adjust valuation for bundled supplies.
The State Government amended Notification No.1/2017-State Tax (Rate) under the Telangana GST Act by inserting, substituting and omitting specified tariff entries across Schedules I-IV. Key changes reclassify agricultural and mineral goods, add medical and pharmaceutical items, introduce renewable energy devices with a rule deeming seventy per cent of gross consideration as goods value when bundled with specified taxable services, distinguish bio-diesel supplied to oil marketing companies, and add other new headings for railway equipment, printed matter, packaging and disability retrofit kits. The amendments alter rate-applicable lists and valuation guidance.
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