TaxTMI 
TaxTMI 
Changes in Compensation Cess Rate Notification w.r.t. supply of certain goods from January 01, 2022 to align it with HS 2022
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....hanges in Compensation Cess Rate Notification w.r.t. supply of certain goods from January 01, 2022 to align it with HS 2022<br>By: - Bimal jain<br>Goods and Services Tax - GST<br>Dated:- 31-12-2021<br><br>Background: Earlier, the CBIC issued Notification No.1/2017-Compensation Cess (Rate) dated June 28, 2017 ("the Compensation Cess Rate Notification") in order to notify the rate of GST compensati....
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....on cess to be levied on the intra-State supplies or inter-State supplies of certain goods mentioned therein. Further, the new (seventh) edition of the Harmonized System (HS) nomenclature i.e., HS-2022, has come into force from January 01, 2022. This edition has introduced significant changes to the Harmonized System with a total of 351 amendments at the six-digit level, covering a wide range of g....
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....oods moving across borders. As India is a party to the HS convention, necessary changes were brought in accordingly, in GST through the below mentioned notification: Notification: The CBIC vide Notification No. 2/2021-Compensation Cess (Rate) dated December 28, 2021 has amended the relevant entries of the Compensation Cess Rate Notification w.e.f. January 1, 2022, in the following manner: S. N....
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....o. Old HSN Old Entry New HSN New Entry 25 2403 91 00 Homogenised" or "reconstituted" tobacco, bearing a brand name 2403 91 00 or 2404 11 00 Homogenised" or "reconstituted" tobacco, bearing a brand name 37 2403 99 90 All goods, other than pan masala containing tobacco 'gutkha', bearing a brand name 2403 99 90 or 2404 11 00 or 2404 19 00 All goods, other than pan masala contain....
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....ing tobacco 'gutkha', bearing a brand name 38 2403 99 90 All goods, other than pan masala containing tobacco 'gutkha', not bearing a brand name 2403 99 90 or 2404 11 00 or 2404 19 00 All goods, other than pan masala containing tobacco 'gutkha', not bearing a brand name 54 8802 Other aircraft (for example, helicopters, aeroplanes), for personal use. 8802 or 8806 Ot....
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....her aircraft (for example, helicopters, aeroplanes), for personal use. Our comments: Similar changes have been adopted in Custom Tariff Act, 1975 from January 01, 2022 so as to align the same with HS 2022 vide D.O.F.No.524/11/2021-STO(TU) dated December 20, 2021 (Author can be reached at [email protected])<br> Scholarly articles for knowledge sharing by authors, experts, professionals ....