𝗚𝗢𝗩𝗘𝗥𝗡𝗠𝗘𝗡𝗧 𝗢𝗙 𝗜𝗡𝗗𝗜𝗔 𝗥𝗲𝗱𝘂𝗰𝗲𝘀 𝗨𝗻𝗶𝗼𝗻 𝗧𝗲𝗿𝗿𝗶𝘁𝗼𝗿𝘆 𝗧𝗮𝘅 𝗥𝗮𝘁𝗲 📢 𝗡𝗲𝘄 𝗧𝗮𝘅 𝗔𝗺𝗲𝗻𝗱𝗺𝗲𝗻𝘁 𝗜𝗻𝘁𝗿𝗼𝗱𝘂𝗰𝗲𝗱: "The Union Territory GST rate has been reduced from 0.5% to 0.25%, effective from July 10, 2024."

🔍 𝗞𝗲𝘆 𝗗𝗲𝘁𝗮𝗶𝗹𝘀: • Issued by: Ministry of Finance, Department of Revenue • 𝗔𝗺𝗲𝗻𝗱𝗺𝗲𝗻𝘁 𝗡𝗼𝘁𝗶𝗳𝗶𝗰𝗮𝘁𝗶𝗼𝗻: No. 01/2024-Union Territory Tax (Amending Notification No. 12/2018)

• 𝗦𝗰𝗼𝗽𝗲: Reduces the UTGST rate to 0.25%, lowering the tax burden on businesses operating in Union Territories. ⚖️ 𝗜𝗺𝗽𝗮𝗰𝘁 𝗼𝗳 𝗔𝗺𝗲𝗻𝗱𝗺𝗲𝗻𝘁: This amendment reduces the GST rate for Union Territories, helping businesses by reducing tax liabilities. The move is part of the government's ongoing efforts to streamline GST rates and encourage economic activities in Union Territories.

📜 𝗔𝗺𝗲𝗻𝗱𝗺𝗲𝗻𝘁 𝗜𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻: • 𝗡𝗼𝘁𝗶𝗳𝗶𝗰𝗮𝘁𝗶𝗼𝗻 𝗡𝗼.: 01/2024-Union Territory Tax • 𝗘𝗳𝗳𝗲𝗰𝘁𝗶𝘃𝗲 𝗗𝗮𝘁𝗲: 10 July 2024 • 𝗢𝗿𝗶𝗴𝗶𝗻𝗮𝗹 𝗡𝗼𝘁𝗶𝗳𝗶𝗰𝗮𝘁𝗶𝗼𝗻: No. 12/2018, Union Territory Tax

This update reflects the government's initiative to simplify the tax framework for Union Territories, offering immediate relief by cutting the GST rate by half, effective from July 2024.