CBIC issues clarification regarding applicability of GST rate & classification of Rab

 ​    Circular No. 191/03/2023-GST dated March … Continue reading “CBIC issues clarification regarding applicability of GST rate & classification of Rab”
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Circular No. 191/03/2023-GST dated March 27th, 2023

Based on the recommendation of the GST council in its 49th meeting, held on 18th February, 2023, the CBIC has issued notification to provide that with effect from the 1st March, 2023, 5% GST rate shall be applicable on Rab, when sold in pre-packaged and labelled, and Nil GST, when sold in other than pre-packaged and labelled.

Now, CBIC has issued clarification that in view of the prevailing divergent interpretation and genuine doubts regarding the applicability of GST rate on Rab, the issue for past period is regularized on “as is” basis.

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