GST Notification – 15/2024:

The Central Government of India, exercising its authority under the Central Goods and Services Tax (CGST) Act, 2017, has issued a new notification following the recommendations of the GST Council. This notification amends an earlier one from September 20, 2018. The main change introduced by this amendment is a reduction in the specified tax rate. Originally, the 2018 notification set a rate of “”half percent”” (0.5%). With this new notification, that rate has been lowered to “”0.25 percent””.

This change is aimed at reducing the tax burden and is officially in effect from the date of its publication in the official Gazette. The amendment reflects the government’s ongoing efforts to streamline tax rates and make compliance easier for taxpayers. By implementing this reduction, the government hopes to encourage better tax compliance and support economic activities.