Notification No. 02/2023 rate
Date: March 31, 2023
Subject: Major revision of compensation cess rates on tobacco and pan masala based on retail sale price.
Description:
This notification substantially revises compensation cess rates on pan masala and tobacco products by linking cess to retail sale price (RSP). It introduces new entries, explanations, and illustrations for calculation of cess. The amendment strengthens anti-evasion measures and ensures uniform valuation.
Issued for earlier notification?
Yes — it amends Notification No. 1/2017–Compensation Cess (Rate).