𝗖𝗢𝗥𝗥𝗜𝗚𝗘𝗡𝗗𝗨𝗠 𝗳𝗼𝗿 𝗜𝗻𝘁𝗲𝗴𝗿𝗮𝘁𝗲𝗱 𝗧𝗮𝘅 (𝗥𝗮𝘁𝗲) 𝗡𝗼𝘁𝗶𝗳𝗶𝗰𝗮𝘁𝗶𝗼𝗻

📢 The Government of India Corrects Notification No. 01/2024-Integrated Tax (Rate): "In its corrigendum dated January 5, 2024, the Ministry of Finance corrected key errors in the original notification issued on January 3, 2024, ensuring accurate references and tax rates."

🔍 𝗙𝗮𝗰𝘁𝘀: 𝗖𝗼𝗿𝗿𝗲𝗰𝘁𝗶𝗼𝗻 𝗶𝗻 𝗧𝗮𝘅 𝗥𝗮𝘁𝗲: Original Rate: “2.5” Corrected Rate: “5” (Appears on line 19 of the original notification.) Correction in Amendment Reference:

Original Reference: Cited as Central Tax (Rate) and G.S.R. 673(E). Corrected Reference: Now reads Integrated Tax (Rate) and G.S.R. 666(E). This aligns with Notification No. 20/2023-Integrated Tax (Rate), dated October 19, 2023.

⚖ 𝗜𝗺𝗽𝗮𝗰𝘁: The corrigendum ensures that the correct tax rate of 5% is applied and clears any confusion about amendment references. This promotes better compliance by correctly linking the amendments to the Integrated Tax framework instead of the Central Tax framework.

📜 𝗡𝗼𝘁𝗶𝗳𝗶𝗰𝗮𝘁𝗶𝗼𝗻 𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻: 𝗡𝗼𝘁𝗶𝗳𝗶𝗰𝗮𝘁𝗶𝗼𝗻 𝗡𝗼.: 01/2024-Integrated Tax (Rate) 𝗖𝗼𝗿𝗿𝗶𝗴𝗲𝗻𝗱𝘂𝗺 𝗗𝗮𝘁𝗲: 5 January 2024 𝗢𝗿𝗶𝗴𝗶𝗻𝗮𝗹 𝗡𝗼𝘁𝗶𝗳𝗶𝗰𝗮𝘁𝗶𝗼𝗻 𝗗𝗮𝘁𝗲: 3 January 2024 𝗜𝘀𝘀𝘂𝗲𝗱 𝗯𝘆: Ministry of Finance, Department of Revenue 𝗔𝘂𝘁𝗵𝗼𝗿𝗶𝘇𝗲𝗱 𝗯𝘆: Nitish Karnatak, Under Secretary

This corrigendum ensures correct tax rate implementation and avoids misinterpretation, enhancing transparency and compliance in Integrated Tax matters.