The Central Board of Indirect Taxes and Customs (CBIC) has issued notifications to reduce tax rates for certain products. Effective from March 1, 2023, the tax rate for pencil sharpeners has been reduced from 18% to 12%, while the tax rate for pre-packaged and labelled Rab has been lowered from 18% to 5%.
In this regard, CBIC has amended the Central Tax Rate Notification 1/2017, Integrated Tax Rate Notification 1/2017, and UT Tax Rate Notification 1/2017 to reflect these changes.
CBIC Central Tax Rate Notification 3/2023 dated 28/02/2023: Seeks to amend Central Tax Rate Notification 1/2017
CBIC Integrated Tax Rate Notification 3/2023dated 28/02/2023: Seeks to amend Integrated Tax Rate Notification 1/2017
CBIC UT Tax Rate Notification 3/2023dated 28/02/2023: Seeks to amend UT Tax Rate Notification 1/2017
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CBIC notifies ‘Nil’ GST rate for Rab (other than packaged or labelled)