Amendment to Integrated Tax Rates: Notification 01/2024 Updates Schedule I – 2.5%

The Government of India, Ministry of Finance, has issued Notification No. 01/2024-Integrated Tax (Rate) on 3rd January 2024. This notification amends the earlier Notification No. 01/2017-Integrated Tax (Rate) dated 28th June 2017, with changes in Schedule I – 2.5%. The amendments come into effect from the 4th day of January 2024.

Government of India
Ministry of Finance
(Department of Revenue)

Notification No. 01/2024-Integrated Tax (Rate) | Dated : 3^rd January, 2024

G.S.R. 11(E).– In exercise of the powers conferred by sub-section (1) of section 5 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017), the Central Government, on the recommendations of the Council, hereby makes the following further amendments in the notification of the Government of India, Ministry of Finance (Department of Revenue), No.1/2017-Integrated Tax (Rate), dated the 28th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 666(E), dated the 28^thJune, 2017, namely:-

In the said notification, in Schedule I – 2.5%, –

(i) against S. No. 165, in column (2), for the entry, the entry “2711 12 00, 2711 13 00, 2711 19 10” shall be substituted;

(ii) against S. No. 165A, in column (2), for the entry, the entry “2711 12 00, 2711 13 00, 2711 19 10” shall be substituted;

2. This notification shall come into force with effect from the 4^th day of January, 2024.

[F. No. 190354/223/2023-TRU]

(Nitish Karnatak)
Under Secretary

Note: – The principal notification No.1/2017-Central Tax (Rate), dated the 28th June, 2017 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 673(E), dated the 28^th June, 2017 and was last amended by notification No. 20/2023 – Central Tax (Rate), dated the 19th October, 2023, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 775(E), dated the 19^th October, 2023.

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Corrigendum to notification no 01/2024-Integrated Tax(Rate) dated 03.1.2024

GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)

CORRIGENDUM

New Delhi, the 5^th January, 2024

G.S.R.28(E).- In the notification of the Government of India, Ministry of Finance (Department of Revenue) No. 01/2024-Integrated Tax (Rate), dated the 3^rd January, 2024, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 11(E), dated the 3^rd January, 2024, at the page number 3, namely:-

(i) in line 19, for “2.5”, read “5”;

(ii) in line 27 to line 31,

for “The principal notification No.1/2017-Central Tax (Rate), dated the 28th June, 2017 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 673(E), dated the 28^th June, 2017 and was last amended by notification No. 20/2023 – Central Tax (Rate), dated the 19th October, 2023, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 775(E), dated the 19^th October, 2023.”,

read “The principal Notification  No.1/2017-Integrated Tax (Rate), dated the 28th June, 2017 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 666(E), dated the 28^th June, 2017 and was last amended by notification No. 20/2023 – Integrated Tax (Rate), dated the 19th October, 2023, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 775(E), dated the 19^th October, 2023.”.

[F. No. 190354/223/2023-TRU]

(Nitish Karnatak)

Under Secretary to the Government of India