- GST Council within the 31st meeting held on 22nd December, 2018 at New Delhi took following selections regarding modifications in GST rates, and clarification (on Goods).
- The choices of the GST Council have been presented on this note for easy understanding.
- The identical can be given impact to by Gazette notifications/ circulars which shall have power of legislation.
GST rate reduction on goods which were attracting GST rate of 28% :
A. 28% to 18%
- Pulleys, transmission shafts and cranks, gear bins and so forth., falling beneath HS Code 8483;
- Monitors and TVs of upto display size of 32 inches;
- Re-treaded or used pneumatic tyres of rubber;
- Energy banks of lithium ion batteries. Lithium ion batteries are already at 18%. This can deliver parity in GST fee of energy financial institution and lithium ion battery;
- Digital cameras and video digicam recorders;
- Video game consoles and different video games and sports activities requisites falling beneath HS code 9504.
B. 28% to five%
- Elements and equipment for the carriages for disabled individuals
GST rate reduction on other goods
A. 18% to 12%
- Cork roughly squared or debagged
- Articles of pure cork
- Agglomerated cork
B. 18% to 5%
- Marble rubble
C. 12% to 5%
- Pure cork
- Strolling Stick
- Fly ash Blocks
D. 12% to Nil:
- Music Books
E. 5% to Nil
- Vegetables, (raw or cooked by steaming or boilingin water), frozen, branded and put in a unit container
- Vegetable provisionally preserved (for instance by sulphur dioxide fuel, in brine, in sulphur water or in different preservative options), however unsuitable in that state for fast consumption.
- Exemption from GST on provide of gold by Nominated Businesses to exporters of article of gold Jewelry.
- Exemption from GST on proceeds acquired by Authorities from public sale of presents acquired by President, Prime Minister, Governor or Chief Minister of a State and public servants, the proceeds of which is used for public or charitable trigger.
- Exemption from IGST/Compensation cess on automobiles imported for short-term functions beneath the Customs Conference on the Momentary importation of Personal Street Automobiles (carnet de passages-en-douane).
- Price of 5%/18% to be utilized primarily based on transaction worth of footwear
- Uniform GST fee of 12% on Versatile Intermediate Bulk Container (FIBC) from present 5%/12% (relying on the worth)
GST on solar power generating plant and other renewable energy plants
- GST fee of 5% fee has been prescribed on renewable vitality units & components for his or her manufacture (bio fuel plant/solar energy primarily based units, solar energy producing system (SGPS) and so forth) [falling under chapter 84, 85 or 94 of the Tariff]. Different items or companies utilized in these crops appeal to relevant GST.
- Sure disputes have arisen relating to GST charges the place specified items attracting 5% GST are equipped together with companies of development and so forth and different items for solar energy plant.
- To resolve the dispute the Council has advisable that in all such instances, the 70% of the gross worth shall be deemed as the worth of provide of stated items attracting 5% fee and the remaining portion (30%) of the combination worth of such EPC contract shall be deemed as the worth of provide of taxable service attracting normal GST fee.