https://www.taxtmi.com/article/detailed?id=13391 Notifications revise GST rates and definitions: fortified rice kernel is reclassified with a concessional rate and an expanded definition of pre-packaged and labelled; gene therapy is exempted; food inputs for free distribution to economically weaker sections receive a reduced rate. Tax on old and used vehicles is shifted to a margin-based levy. Changes to mechanism and compliance include revised specified premises classification with opt-in/out declarations, narrowing of reverse charge applicability for sponsorships and rental by composition taxpayers, conditional exemption from compensation cess for certain exports, updated arrest and bail guidance requiring written grounds, adjusted draft input-credit generation timing, and portal procedures for a statutory waiver scheme. en-us Fri, 24 Jan 2025 13:41:07 +0530 Fri, 24 Jan 2025 13:41:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=13391 Notifications revise GST rates and definitions: fortified rice kernel is reclassified with a concessional rate and an expanded definition of pre-packaged and labelled; gene therapy is exempted; food inputs for free distribution to economically weaker sections receive a reduced rate. Tax on old and used vehicles is shifted to a margin-based levy. Changes to mechanism and compliance include revised specified premises classification with opt-in/out declarations, narrowing of reverse charge applicability for sponsorships and rental by composition taxpayers, conditional exemption from compensation cess for certain exports, updated arrest and bail guidance requiring written grounds, adjusted draft input-credit generation timing, and portal procedures for a statutory waiver scheme. Articles Goods and Services Tax - GST Fri, 24 Jan 2025 13:41:07 +0530 https://www.taxtmi.com/article/detailed?id=13391