GST changes applicable w.e.f 20th Oct, 2023
- Singhal Jayadev
- Oct 27, 2023
- 2 min read
Glimpse of GST changes applicable w.e.f 20th Oct, 2023 introduced by the CBIC vide Central Tax (Rate) notifications issued dated 19th Oct, 2023.
>Notification No. 12/2023-Central Tax (Rate)-
Seeks to amend Notification No 11/2017- Central Tax (Rate) dated 28.06.2017. In case of Passenger Transport Services and Rental services of transport vehicles with operators, restricting the input tax credit to 2.5%, where the supplier of input service in the same line of business charges central tax at a rate higher than 2.5%.
> Notification No. 13/2023-Central Tax (Rate)-
Services provided to a Governmental Authority by way of water supply, public health, sanitation and conservancy, solid waste management and slum improvement and upgradation have been exempted from levy of GST.
> Notification No. 14/2023-Central Tax (Rate)-
Supply of all goods and services by Indian Railways shall be taxed under Forward Charge Mechanism to enable them to avail ITC.
> Notification No.15/2023-Central Tax (Rate)-
Notification No. 15/2017-CT(R) dt. 28.06.2017 has been amended to provide no refund of unutilised input tax credit shall be allowed under sub-section (3) of section 54 in case of "construction of a complex, building or a part thereof, intended for sale to a buyer, wholly or partly, where the amount charged from the recipient of service includes the value of land or undivided share of land.
> Notification No. 16/2023-Central Tax (Rate)-
Notification No. 17/2017-CT(R) dt. 28.06.2023 has been amended to provide that GST in case of services by way of transportation of passengers provided through Omnibus shall be paid by the ECO except where the supplier supplying such service through the ECO is a Company.
>Notification No. 17/2023-Central Tax (Rate)-
a. GST rate on molasses has been reduced from 14% to 2.5%.
b. Spirits for industrial use has been made taxable at the rate of 9%.
>Notification No. 18/2023-Central Tax (Rate)-
Taxability of “Food preparation of millet flour in powder form, containing at least 70% millets by weight” has been amended as follows:
a. other than pre-packaged and labelled form - 0% (Notification No. 18/2023-CT (R) dt. 19.10.2023)
b. pre-packaged and labelled form – 2.5% (Notification No. 17/2023-CT (R) dt. 19.10.2023)
>Notification No. 19/2023-Central Tax (Rate)-
Tax shall be paid under forward charge when used vehicles, seized and confiscated goods, old and used goods, waste and scrap is supplied by Ministry of Railways (Indian Railways) to a registered person.
>Notification No. 20/2023-Central Tax (Rate)-
No refund of unutilised input tax credit under inverted duty structure shall be allowed in case of supply of imitation zari thread or yarn made out of Metallised polyester film /plastic film. An explanation has also been inserted providing that this entry shall apply only for refund of input tax credit on polyester film /plastic film.
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