The Central Board of Indirect Taxes and Customs (CBIC) on January 22, 2024, issued a notice calling for feedback/suggestions from stakeholders on the Harmonization of the GST Rate Schedule on Services and the Classification of Services adopted for GST.
Under GST, the Scheme of Classification of services adopted is based on UNCPC (UN Central Product Classification of Goods and Services). However, while the UNCPC adopts a 5-digit classification, the classification adopted for GST is a 4-digit classification with digits 99 pre-fixed to indicate that these are services.
The GST rate schedule specifying the applicable GST rates for different services does not mention the classification of services at the 6-digit level. Therefore, an attempt has been made to harmonize the GST Rate Schedule with the Classification of Services to promote ease of doing business.
The document annexed is a self-contained draft schedule of GST rates on services, in which the service code (6-digit), the description of the service and the applicable rate, along with the condition applicable, are given together.
All are requested to kindly provide feedback/suggestions on the annexed draft schedule of GST rates on services by January 31, 2024. The same may be mailed to the Email ID [email protected].
The Draft rate schedule of services at the 6-digit level of classification is annexed to the document below.
