Goods and Services Tax – GST – Dated:- 18-7-2017 – In pursuance of the recommendations of the GST Council in its 14th Meeting held on 18.05.2017 and 19.05.2017, the Compensation Cess rates under Section 8 (2) of the Goods and Services Tax (Compensation to States) Act, 2017, was notified vide notification No.1/2017-Compensation Cess (Rate), dated 28.06.2017 on Intra-State or Inter-State supply of the specified goods, including cigarettes. In respect of cigarettes, the Fitment Committee had recommended that in line with the weighted average VAT rate [28.7%], the GST rate on cigarettes may be kept at 28%. In addition, Compensation Cess may be levied on cigarettes at rates equal to 1.05 times the Specific Excise Duty Rates [net of NCCD]. Howev
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Cess Rates Tariff Item Present rate Proposed Increase New rates Non- filter 2402 20 10 Not exceeding 65 mm 5% + ₹ 1591 per thousand Rs.485 per thousand 5% + Rs.2076 per thousand 2402 20 20 Exceeding 65 mm but not 70 mm 5% + ₹ 2876 per thousand Rs.792 per thousand 5% + Rs.3668 per thousand Filter 2402 20 30 Not exceeding 65 mm 5% + ₹ 1591 per thousand Rs.485 per thousand 5% + Rs.2076 per thousand 2402 20 40 Exceeding 65 mm but not 70 mm 5% + ₹ 2126 per thousand Rs.621 per thousand 5% + Rs.2747 per thousand 2402 20 50 Exceeding 70 mm but not 75 mm 5% + ₹ 2876 per thousand Rs.792 per thousand 5% + Rs.3668 per thousand 2402 20 90 Others 5% + ₹ 4170 per thousand 31% 36% + ₹ 4170 per thousand – News – Pr
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