Goods and Services Tax – GST Dated:- 20-9-2019 – News – The 37 th GST Council met in Goa today under the Chairmanship of Union Finance Corporate Affairs Minister Smt Nirmala Sitharaman . The meeting was also attended by Union Minister of State for Finance Corporate Affairs Shri Anurag Thakur besides Chief Minister of Goa Shri Pramod Sawant, Finance Ministers of States UTs and seniors officers of the Ministry of Finance . The council took the following decisions in respect to rates relating to goods. I GST rates reduction, – 18% to 12% on parts of Slide Fasteners 18% to 5% on Marine Fuel 0.5% (FO) 12% to 5% on Wet Grinders(consisting stone as a grinder) 5% to Nil on:- Dried tamarind Plates and cups made up of leaves/ flowers/bark 3% to 0.25% on cut and polished semi- precious stones Applic
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Exemption from GST/IGST:- at the time of import on Silver/Platinum by specified nominated agencies supply of Silver/Platinum by specified nominated agency to exporters for exports of Jewellery, Inclusion of Diamond India Limited (DIL) in the list of nominated agencies eligible for IGST exemption on imports of Gold/ Silver/Platinum so as to supply at Nil GST to Jewellery exporters. IV A uniform GST rate of 12% on Polypropylene/Polyethylene Woven and Non- Woven Bags and sacks, whether or not laminated, of a kind used for packing of goods (from present rates of 5%/12%/18%) V GST concession in certain cases for specific period: – Exemption to Fishmeal for the period 01.07.17 to 30.09.19. There were doubts as regards taxability of fishmeal in view of the interpretational issues. However, any tax collected for this period shall be required to be deposite
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concessional GST rate of 5% was paid at the time of original supply) provided that the goods are certified by Director General Hydrocarbon(DGH) as non-serviceable. Restriction on refund of compensation cess on tobacco products (in case of inverted duty structure) Prescribing modalities for allowing concessions on spare parts imported temporarily by foreign airlines for repair of their aircraft, while in India in transit in terms of the Chicago Convention on Civil Aviation. Certain other changes of technical nature for the sake of clarity in application of notification. VIII Clarifications as regards applicability of GST rate in respect of certain goods recommended by GST Council which inter-alia includes: Mere heating of leguminous vegetables (gram/lentil) for removing moisture, or to soften and puff it or removing the skin, and not subjecting to any other processing or addition of any other
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