Notification No. 22/2023-Integrated Tax (Rate) Dated: 19th October, 2023

On the 19th of October, 2023, the Ministry of Finance, Department of Revenue, Government of India, issued Notification No. 22/2023-Integrated Tax (Rate). This notification introduces significant amendments to the taxation framework governed by the Integrated Goods and Services Tax Act, 2017 (IGST Act). In this article, we will provide an in-depth analysis of these amendments and their implications.

Detailed Analysis:

1. Amendment in S. No. 6: The key amendment is in S. No. 6 of the notification. In column 4, the entry is substituted to read as follows: “Central Government [excluding Ministry of Railways (Indian Railways)], State Government, Union territory, or a local authority.” This change specifically impacts the entities to which the amended tax rate applies.

2. Scope and Impact: The amendment redefines the entities subject to the Integrated Tax Rate. Specifically, the Ministry of Railways (Indian Railways) is excluded from the category to which the new tax rate applies. This alteration has implications for tax calculations and compliance for the affected entities.

3. Effective Date: The tax changes introduced in this notification will be effective from the 20th of October, 2023. It is crucial for affected entities to promptly adapt to these new tax regulations to ensure proper adherence and avoid potential legal or financial complications.

Conclusion:

Notification No. 22/2023-Integrated Tax (Rate) issued by the Ministry of Finance, Department of Revenue, Government of India, introduces significant amendments to the taxation framework governed by the Integrated Goods and Services Tax Act, 2017 (IGST Act). The primary change is the amendment in S. No. 6, which excludes the Ministry of Railways (Indian Railways) from the entities subject to the new tax rate.

Effective from the 20th of October, 2023, entities affected by this amendment must understand and comply with the new tax regulations. Staying informed and adapting to these changes is crucial to ensure smooth operations and to avoid potential legal or financial complications.

GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(Department of Revenue)

Notification No. 22/2023- Integrated Tax (Rate) | Dated: 19^th October, 2023

New Delhi, the 19^th October, 2023

G.S.R.781(E).– In exercise of the powers conferred by sub-section (3) of section 5of the Integrated Goods and Services Tax Act, 2017 (1 3of 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. 4/2017-IntegratedTax (Rate), dated the 28^th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 669(E),dated the 28^th June, 2017, namely:-

In the said notification, in the Table, against S. No. 6, in column 4, for the entry, the following entry may be substituted, namely: –

“Central Government [excluding Ministry of Railways (Indian Railways)] , State Government, Union territory or a local authority.”

2. This notification shall come into force with effect from the 20^th day of October, 2023.

[F. No. CBIC-190354/1 95/2023-TO(TRU-II)-CBEC]

Vikram Wanere
Under Secretary

Note: – The principal notification no. 4/2017-IntegratedTax (Rate), dated the 28^th June, 2017, was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 669(E), dated the 28^thJune, 2017 and was last amended by notification No. 14/2022- Integrated Tax (Rate), dated the 30^th December, 2022, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 923 (E), dated the 30^th December, 2022.