Goods and Services Tax – 46/20/2018 – Dated:- 6-6-2018 – Circular No. 46/20/2018-GST F. No. 354/149/2017 -TRU Government of India Ministry of Finance Department of Revenue Tax Research Unit ****** North Block, New Delhi Dated the 6th June, 2018 To The Principal Chief Commissioner/ Principal Directors General/Chief Commissioner/ Directors General/Principal Commissioner/ Commissioner of Central Excise and Central Tax (All) / Director General of Systems Madam / Sir, Subject: Applicable GST rate on Priority Sector Lending Certificates (PSLCs), Renewable Energy Certificates (RECs) and other similar scrips -regarding Representations have been received seeking clarification regarding the classification and applicable GST rate on the Renewable Ene
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S. No. 453 of Schedule III of notification No. 01/2017-Central Tax (Rate). 4. As a result, there is lack of clarity on the applicable rate of GST on various scrips/ certificates like RECs, PSLCs etc. 5. The matter has been re-examined. GST rate of 18 % under the residual entry at S.No. 453 of Schedule III of notification No. 01/2017-Central Tax (Rate) applies only to those goods which are not covered under any other entries of Schedule I, II, IV, V, or VI of the notification. In other words, if any goods are covered under any of the entries of Schedule I, II, IV, V, or VI, the GST rate applicable on them will be decided accordingly, without resorting to the residual entry 453 of Schedule III. 6. As such, various certificates like RECs, PSL
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