SUMMARY OF NOTIFICATIONS ISSUED ON 16TH JANUARY 2025 PERTAINING TO CHANGES IN GST RATES
NOTIFICATION NO.& DATEKEY FEATURESUBJECT01/2025, 16/01/2025Amendments to Notification No. 01/2017-Central Tax (Rate) Amendment in the definition of ‘pre-packaged and labelled’Reduces the GST rate on Fortified Rice Kernel (FRK), classifiable under HSN 1904, to 5%. Amendment in the definition of ‘pre-packaged and labelled’ - to now cover all commodities that are intended for retail sale and containing not more than 25 kg or 25 litre, which are ‘pre-packed’ as defined under the Legal Metrology Act, or a label affixed thereto is required to bear the declarations under the provisions of the Act and rules. This notification shall come into force with immediate effect.02/2025, 16/01/2025Amendments to Notification No. 01/2017-Central Tax (Rate) Exempts the GST on gene therapy Exempts the GST on gene therapy. This notification shall come into force with immediate…