Notification No: 15/2024 – Central Tax dated 10-07-2024 – Download pdf

Seeks to amend Notification No. 52/2018- Central Tax, dated 20.09.2018.

Summary:
1. Amendment in Tax Rate on TCS:
a. The notification reduces the rate of tax collection at source (TCS) under Section 52(1) of the CGST Act, 2017, from 0.5% to 0.25%.
b. This amendment modifies the earlier Notification No. 52/2018 - Central Tax dated 20th September 2018.
c. The change comes into effect from the date 10-07-2024.

Full Content of the Notification

G.S.R….(E).—In exercise of the powers conferred by sub-section (1) of section 52 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 amendments in the notification of the Government of India, in the Ministry of Finance (Department of Revenue) No. 52/2018-Central Tax, dated the 20th September, 2018 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R.900(E), dated the 20th September, 2018, namely:-

In the said notification, for the words “half percent.”, the figure and word “0.25 percent.” shall be substituted.

2. This notification shall come into force from the date of its publication in official gazette.