CBIC Notifies Amendment of Compensation Cess Rate of Pan Masala, Tobacco Products [Read Notification]
CBIC Notifies Amendment of Compensation Cess Rate – Amendment of Compensation Cess – CBIC – Tobacco Products – Pan Masala – Taxscan
CBIC Notifies Amendment of Compensation Cess Rate – Amendment of Compensation Cess – CBIC – Tobacco Products – Pan Masala – Taxscan
The Central Board of Indirect Taxes and Customs (CBIC) has notified the amendment of the Compensation Cess Rate of Pan masala and tobacco products vide notification no. No. 3/2023 issued on 26th July 2023.
By exercising the authority granted under sub-section (2) of section 8 of the Goods and Services Tax (Compensation to States) Act, 2017, the Central Government, based on the recommendations of the Council, hereby introduces the following further amendments to the notification issued by the Government of India, Ministry of Finance (Department of Revenue), No. 1/2017-Compensation Cess (Rate), dated 28th June 2017. This notification was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 720(E), dated 28th June 2017.
From the rate of 11%, the compensation rate went up to 204%. And the products like Homogenised” or “reconstituted” tobacco, bearing a brand name with a declared retail sale price has 0.36R per unit.
Chewing tobacco (without lime tube), other than goods covered under S. No. 26 has a compensation cess rate of 160% and Chewing tobacco (with lime tube), other than goods covered under S. No. 27 has a cess of 147%.
Pan masala containing tobacco 'Gutkha', other than goods covered under S. No. 36 has a compensation cess of 204% and all goods, other than pan masala containing tobacco 'gutkha', bearing a brand name, with declared retail sale price of 0.43R per unit.
Similarly, the notification has listed the cess rate of the products related.
Further, against S. No. 52B, in column (3), for the entry, the entry “Motor vehicles known as Utility Vehicles, by whatever name called including Sports Utility Vehicles (SUV), Multi Utility Vehicles (MUV), Multi-purpose vehicles (MPV) or Cross-Over Utility Vehicles (XUV), with engine capacity exceeding 1500 cc; Length exceeding 4000 mm and Ground Clearance of 170 mm and above.
Explanation: For the purpose of this entry, Ground Clearance means ground clearance in unladen condition.” shall be substituted;
The notification shall come into force on 27th July 2023.
To Read the full text of the Order CLICK HERE
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