On January 3, 2024, the Central Board of Indirect Taxes and Customs (CBIC) issued Notification No. 01/2024-Central Tax (Rate) to amend the Central Goods and Services Tax Act, 2017 (CGST Act). This amendment, authorized under sections 9(1) and 15(5) of the CGST Act, introduces modifications to the base Notification No. 1/2017-Central Tax Rate dated June 28, 2017, also known as the Goods Rate Notification.
| Number | Date | Subject | Download |
|---|---|---|---|
| 01/2024-Central Tax (Rate) | 03-Jan-2024 | Seeks to amend Notification No 01/2017- Central Tax (Rate) dated 28.06.2017. | English हिन्दी |
As per the notification, a 2.5% CGST rate has been imposed on LPG (for non-automotive purposes) conforming to the standard IS 4576, falling under tariff item 2711 19 10.
Consequently, the effective GST rate for this item will now be 5%, comprising 2.5% CGST and 2.5% SGST.
The specific amendment targets Schedule I – 2.5% of the Goods Rate Notification, incorporating two key changes:
(i) Against S. No. 165, in column (2), the entry “2711 12 00, 2711 13 00, 2711 19 10” shall replace the existing entry.
(ii) Against S. No. 165A, in column (2), the entry “2711 12 00, 2711 13 00, 2711 19 10” shall substitute the current entry.
The notification stipulates that these changes will be effective from January 4, 2024.
Similar notifications have been issued under the Integrated Goods and Services Tax Act, 2017 (IGST Act) and the Union Territory Goods and Services Tax Act, 2017 (UTGST Act).
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