Sandip More (17 Points)
13 October 2023The GST Council has decided to reduce the GST rate on molasses from 28% to 5% in the 52nd Council meeting on 07/10/2023, but still no circular and notification has issued.
I want to know the effective date from the rate of the molasses will be effective.
Is the reduction in rate is applicable from the publication of the press note or have to wait till the publication of the Circular or Notification.
Suresh Kumar
(Account)
(403 Points)
Replied 13 October 2023
It will be defined in the relevant circulars/ notifications/ law amendments that from when it will be applicable. It may be retrospective. But, Generally applicable form the date of issuance of circular/ notification.
Have to wait
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