GST Rate Change for Corrugated Box, Mono Cartons from 18% to 12%
Notification No. 02/2024-Central Tax (Rate) Released to Public on 12-7-2024 …
Effective from 15th -July-2024
GST on most of the Cartons ( Both Corrugated boxes, and Mono Cartons ) Changed to 12%
GST Rate change is applicable from today – 15th-July-2024
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUBSECTION
(i)]
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(Department of Revenue)
Notification No. 02/2024-Central Tax (Rate)
New Delhi, the 12th July, 2024
G.S.R. ……(E).- In exercise of the powers conferred by sub-section (1) of section 9 and sub-section (5) of section 15 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council, hereby makes the following further amendments in the notification of the Government of India, Ministry of Finance (Department of Revenue), No. 1/2017-Central Tax (Rate), dated the 28th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 673(E), dated the 28th June, 2017, namely:-
In the said notification, –
(c) in Schedule II – 6%, –
(iii) for S. No. 153A and the entries relating thereto, the following S. No. and the entries shall be substituted, namely: –
“121A. |
4819 |
Cartons, boxes and cases of, –(a) corrugated paper or paper board; or(b) non-corrugated paper or paper board”; |
Focus of Government was on the Fruit growers, since their output is GST free,… and input was having 18% GST …..
Anyway.. it effects us all – Either as Buyers or as Sellers
For the Manufacturers of Corrugated Boxes and Mono Cartons, the Cash Flow problem gets reduced a bit
Action required for Web Finsys users… see this powerpoint on this Google link below
Action required for Main VB Finsys users… see this powerpoint on this Google link below
Notification Copy / Circular Copy official from CBIC / GST Dept
An Old video we made in 2021… for Change the GST Rate on your Sale Invoices in your ERP Software from 12 to 18
However, unlike in 2021 change… all Other items continue at existing rates and remain in 18% example :
following items connected with the Printing and Packaging Industry
157D. |
4909 |
Printed or illustrated postcards; printed cards bearing personal greetings, messages or announcements, whether or not illustrated, with or without envelopes or trimmings. |
157E. |
4910 |
Calendars of any kind, printed, including calendar blocks. |
157F. |
4911 |
Other printed matter, including printed pictures and photographs; such as Trade advertising material, Commercial catalogues and the like, printed Posters, Commercial catalogues, Printed inlay cards, Pictures, designs and photographs, Plan and drawings for architectural engineering, industrial, commercial, topographical or similar purposes reproduced with the aid of computer or any other devices.”;
|
and also change in case of Debit Notes or Credit Notes you make for past Price Increases or Decreases
Purchase Side
for all manufacturers…if you buy any of the above mentioned items, you also have to be aware of this, and Purchase Orders, MRR, and Purchase Voucher passing will change accordingly
Click the button below to download the original notification by the Government.
Once again, Remember to Change the GST Rate on both sides,
if you sell Corrugated boxes and Mono cartons, or you purchase the Corrugated Boxes and Mono Cartons
“Do it yourself” 1 step manual in the youtube above
Effects on you, on your ERP, on your Sales, and on your Purchase… due to the Change in the GST rates for Corrugation and Mono Cartons
Do you know what changes you have to do in Finsys ERP for the Correct action on the GST Rate change in Mono Cartons and Corrugated Boxes ?