25th MEETING OF GST COUNCIL – RECOMMENDATIONS IN CHANGE IN RATE OF TAX, AND EXEMPTION – Goods and Services Tax – GST – By: – Mr. M. GOVINDARAJAN – Dated:- 20-1-2018 – 25th Council Meeting The 25th GST Council meeting was held at New Delhi on 18.01.2018. The said meeting was chaired by Shri Arun Jetley, the Hon ble Finance Minister. The decisions relating to- exemptions; changes in GST rates; ITC eligibility criteria; Rationalization of rates; were taken by the Council in the said meeting. However the said decisions will be given effect to through Gazette Notifications/circulars which shall have the force of law. Reduction in GST rate for certain goods The GST Council recommended the rate reduction as detailed below- From 28% to 18%; From 28% to 12%; From 18% to 12%; From 18% to 5%; From 12% to 5%; From 12% to 5%; From 3% to 0.25%; NIL rate From 28% to 18% The Council recommended the reduction of GST rate from 28% to 18% to the following goods- Old and used motor vehicles (medium and la
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viride Trichoderma harzianum Pseudomonas fluoresens Beauveriabassiana NPV of Helicoverpaarmigera NPV of Spodopteralitura Neem based pesticides Cymbopogan Bamboo wood building joinery Drip irrigation system including laterals, sprinklers Mechanical sprayer From 18% to 5% The GST Council recommended the reduction of GST rate from 18% to 5% to the following goods- Tamarind Kernel Powder Mehendi paste in cones LPG supplied for supply to household domestic consumers by private LPG distributors Scientific and technical instruments, apparatus, equipment, accessories, parts, components, spares, tools, mock ups and modules, raw material and consumables required for launch vehicles and satellites and payloads. The GST Council recommended the reduction of IGST rate from 18% to 5% to the following goods- Satellites and payloads and scientific and technical instruments, apparatus, equipment, accessories, parts, components, spares, tools, mock ups and modules, raw material and consumables required f
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ted with all fitments, furniture and accessories necessary for an ambulance from the factory manufacturing such vehicles. 10 – 13 seater ambulances, subject to specified conditions; Old and used motor vehicles (medium and large cars and SUVs) on the margin of the supplier, subject to the condition that no input tax credit of Central Excise duty/VAT or GST paid on such vehicles has been availed of by him; All types of old and used motors (other than medium and large cars and SUVs) on the margin of the supplier of subject to the conditions that no input tax credit of central excise duty/VAT or GST paid on such vehicles has been availed by him. Exemption from GST/IGST for certain services The GST Council recommended exemption from GST for the following services- Viability Gap Funding for a period of 3 years from the date of commencement of RCS airport from the present period of one year; Supply of services by way of providing information under RTI Act, 2005; Legal services provided to Gov
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f the Customs Valuation (Determination of Value of Imported Goods) Rules, 2007. Enhance exemption limit of ₹ 5,000/- per month to ₹ 7500/- per month in respect of services provided by Resident Welfare Association (unincorporated or nonprofit entity) to its members against their individual contribution. Dollar denominated services provided by financial intermediaries located in IFSC SEZ, which have been deemed to be outside India to a person outside India. Services by government or local authority to governmental or governmental entity, by way of lease of land and supply of land or undivided share of land by way of lease or sub lease where such supply is a part of specified composite supply of construction of flats etc., and to carry out suitable amendment in the provision relating to valuation of construction service involving transfer of land or undivided share of land, so as to ensure that buyers pay the same effective rate of GST on property built on leasehold and freeho
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ucational institution providing education up to higher secondary or equivalent. Services provided by an to FederationInternationale de Football Association and its subsidiaries directly or indirectly related to any of the events under FIFA U – 20 World Cup in case the said extent is hosted by India. Government s share of profit petroleum from GST and to clarify that cost petroleum is not taxable per se. Change in rate for services Reduction in rate From 28% to 18% Admission to theme parks, water parks, joy rides, merry-go-rounds, go-caring and ballet. From 18% to 12%- GST rate on construction of metro and monorail projects (construction, erection, commissioning or installation of original works); Works contract services provided by sub contractor to the main contractor providing works contract service to Central Government, State Government, Union territory, a local authority, a Governmental Authority or a Government Entity, which attract GST of 12% From 18% to 5% Tailoring service; Tr
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