Latest GST Updates 2023|GST Updates February 2023

This articles covers latest gst updates 2023. It contains all the Notifications and Circulars issued in February-2023 which covers all GST Updates February 2023. All these amendments have been presented hear topic wise and reference of relevant latest gst notifications and latest gst circulars have been given at bottom of each topic. As well as, I have given our own analysis wherever it is necessary.

Latest changes in GST exemption by latest GST Updates 2023

Scope of exemption to Service by conduct of entrance examination has been extended from 01.03.2023

Now with effect from 01.03.2023 service of conducting entrance examination to educational institutions by the following personas shall be exempt

1. Any authority, board or body set up by Central/State Government
2. National Testing Agency

Analysis:

• This amendment has been made as consequence of discussion in 49^th council meeting held on 18/02/2023.

If you want to know about key decisions taken in 49th GST Council Meeting then click on link Key Decisions of 49th GST Council Meeting

• New clause (iva) has been inserted in Explanation of Notification 12/2017 Central Tax (Rate)
• As per the Definition given in Notification 12/2017 Central Tax (Rate) educational institution” means an institution providing services by way of,-
  • pre-school education and education up to higher secondary school or equivalent; 
  • education as a part of a curriculum for obtaining a qualification recognized by any law for the time being in force;
  • education as a part of an approved vocational education course;

• As well Central and State Educational Boards has already been included from 26.07.2018 in the definition of Educational Institute for   the limited purpose of providing services by way of conduct of examination to the students as per clause (iv) of Explanation of Notification 12/2017 Central Tax (Rate)
• Now this notification 12/2017 Central Tax (Rate) again is amended by Notification 01/2023 Central Tax (Rate) to  include authority, board or body set up by Central/State Government and National Testing Agency in the definition of educational institute for limited purpose only
• This limited purpose means exemption is available only for conducting entrance examination and that is too only to educational institutes.

gst notification 2023 latest pdf download

Latest GST changes in RCM by latest GST Updates 2023

Services by courts/tribunal now covered under RCM w.e.f. 01.03.2023

• With effect from 01/03/2023, services provided by courts/tribunal now covered under RCM.
• This amendment has been made as consequence of discussion in 49^th council meeting held on 18/02/2023.
• For that Clause (h) in explanation of Notification 13/2017 Central Tax (Rate) has been amended by Notification 02/023 Central Tax (Rate) dated 28.02.2023
• Let’s understand this amendment in table format as under.

gst notification pdf

Latest changes in GST rates of goods by latest GST Updates 2023

GST on “Rab” 5% if pre-packaged and labelled, otherwise exempt w.e.f 01.03.2023

GST on “Rab” will be as under with effect from 01.03.2023

Analysis:

• This amendment has been made as consequence of discussion in 49^th council meeting held on 18/02/2023.
• The question is that what was GST on “Rab” before 01.03.2023

• Circular No 189/01/2023-GST Dt-13-01-2023   has already been issued in this regard and it has been clarified as under

Rab Means‘massecuite prepared by concentrating sugarcane juice on open pan furnaces, and includes Rab Galawat and Rab Salawat, but does not include khandsari molasses or lauta gur.’ Although, a product of sugarcane, Rab exists in semi-solid/liquid form, and is thus not covered under heading 1701.

Accordingly, it is hereby clarified that Rab is appropriately classifiable under heading 1702 attracting GST rate of 18% (S. No. 11 in Schedule III of notification No. 1/2017-Central Tax (Rate), dated the 28th June, 2017)

• In 49^th GST Council meeting it was decided to regularize payment of GST on ‘rab’ during the past period on “as is basis” on account of genuine doubts over its classification and applicable GST rate

gst rate notification pdf|gst notification 2023 latest pdf download

GST on Pencil Sharpener reduced from 18% to 12%

As consequence of discussion in 49^th council meeting held on 18/02/2023 GST on pencil sharpers has been reduced from 18% to 12%

 Changes in GST Budget 2023

There was a budget on 01st February, 2023. A separate article on GST Budget 2023 has already been published. If you have not red it, please click below the link

GST Budget 2023

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