CBIC issues Clarification on GST Rate and Classification of ‘Rab’ based on recommendation of 49th GST Council:

CBIC has issued Clarification regarding GST rate and classification of ‘Rab’ based on the recommendation of GST Council in its 49th meeting held on 18th February, 2023 via issuing Circular.

GST Rate and Classification of ‘Rab’

Reetu

Mar 31, 2023

Last update on Mar 31, 2023

CBIC issues Clarification on GST Rate and Classification of ‘Rab’ based on recommendation of 49th GST Council The Central Board of Indirect Taxes and Customs(CBIC) has issued Clarification regarding GST rate and classification of ‘Rab’ based on the recommendation of the GST Council in its 49th meeting held on 18th February, 2023 via issuing Circular. The Circular Stated, "Based on the recommendation of the GST council in its 49th meeting, held on 18th February, 2023, with effect from the 1st March, 2023, 5% GST rate has been notified on Rab, when sold in pre- packaged and labelled, and Nil GST, when sold in other than pre- packaged and labelled." Further, as per the recommendation of the GST Council in the above-said meeting, in view of the prevailing divergent interpretations and genuine doubts regarding the applicability of GST rate on Rab, the issue for past period is hereby regularized on “as is” basis. For Official Circular Download PDF Given Below:

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Reetu is a Content Writer with 4+ years of experience in GST, Income Tax, Finance, Company Law, Education and Career Related Content. She is a B.COM (Honrs.) Graduate.