The Central Board of Indirect Taxes and Customs (CBIC) has notified changes to the Goods and Services Tax (GST) rates following recommendations from the 53rd GST Council meeting. The new proposal suggests a uniform GST rate of 12% on several goods, such as milk cans, carton boxes, and sprinklers.
During the council meeting, several crucial issues were discussed, and recommendations were made to address legal and technical challenges currently affecting the industry. The main goal of these changes is to streamline the tax structure and reduce the tax burden on essential items.
The revised rates will come into effect from July 15th, 2024.
Official Notification: