CBIC clarifies that Seeds, fruit and spores, of a kind used for “sowing” only shall be exempted

CBIC clarifies that Seeds, fruit and spores, of a kind used for “sowing” only shall be exempted The CBIC vide Notification No. 09/2021 Central Tax (R…

A2ZBimal Jain

Oct 5, 2021

Last update on Oct 5, 2021

CBIC clarifies that Seeds, fruit and spores, of a kind used for “sowing” only shall be exempted The CBIC vide Notification No. 09/2021 Central Tax (Rate) dated September 30, 2021 has further amended Notification No. 02/2017-Central Tax (Rate) dated June 28, 2017 (“Goods exemption notification”), in order to adhere to the recommendations of 45th GST Council meeting held on September 17, 2021. An explanation has been inserted at S. no. 86 in the Goods exemption notification to clarify that, “Seeds, fruit and spores, of a kind used for sowing” only shall be exempted and it does not cover seeds meant for any use other than sowing. Note: This notification shall be effective from October 01, 2021. Similar notification has been passed under Integrated Goods and Services Tax Act, 2017 (“IGST Act”) and Union Territory Goods and Services Tax Act, 2017 (“UTGST Act”). CGST (Rate) Notification: Link IGST (Rate) Notification: Link UTGST (Rate) Notification: Link (Author can be reached at [email protected]) DISCLAIMER: The views expressed are strictly of the author and A2Z Taxcorp LLP. The contents of this article are solely for informational purpose and for the reader’s personal non-commercial use. It does not constitute professional advice or recommendation of firm. Neither the author nor firm and its affiliates accepts any liabilities for any loss or damage of any kind arising out of any information in this article nor for any actions taken in reliance thereon. Further, no portion of our article or newsletter should be used for any purpose(s) unless authorized in writing and we reserve a legal right for any infringement on usage of our article or newsletter without prior permission.

About Author

A2ZBimal Jain

Chartered Accountant

CA Bimal Jain is a Member of Institute of Chartered Accountants of India since May 1994 and Member of Institute of Company Secretaries of India since December 2006 along with a Bachelors degree in Law. Also, he is a Qualified SAP - FI/CO Consultant and has more than 21 years of experience in Indirect Taxation and specializes in all aspects of Service Tax, Value Added Tax (VAT)/ Central Sales Tax (CST), Central Excise, Customs, Foreign Trade Policy (FTP), Special Economic Zone (SEZ), Export Oriented Unit (EOU), Export-Import Laws and well acquainted with the concept and impact of way forward Goods and Services tax (GST).