25th MEETING OF GST COUNCIL \u2013 RECOMMENDATIONS IN CHANGE IN RATE OF TAX, AND EXEMPTION
By: – DR.MARIAPPAN GOVINDARAJAN
Goods and Services Tax – GST
Dated:- 20-1-2018<\/p>\n
25th Council Meeting
\nThe 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-
\n * exemptions;
\n * changes in GST rates;
\n * ITC eligibility criteria;
\n * Rationalization of rates;
\nwere 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.
\nReduction in GST rate for certain goods
\nThe GST Council recommended the rate reduction as detailed below-
\n * From 28% to 18%;
\n * From 28% to 12%;
\n * From 18% to 12%;
\n * From 18% to 5%;
\n * From 12% to 5%;
\n * From 12% to 5%;
\n * From 3% to 0.25%;
\n * NIL rate
\nFrom 28% to 18%
\nThe Council recommended the reduction of GST rate from 28% to <\/p>\n
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For full text:-Visit the Source <\/a><\/p>\n
\n * Bacillus thuringiensis var, kurstaki
\n * Bacillus thuringiensis var, galleriae
\n * Bacillus sphaericus
\n * Trichoderma viride
\n * Trichoderma harzianum
\n * Pseudomonas fluoresens
\n * Beauveriabassiana
\n * NPV of Helicoverpaarmigera
\n * NPV of Spodopteralitura
\n * Neem based pesticides
\n * Cymbopogan
\n * Bamboo wood building joinery
\n * Drip irrigation system including laterals, sprinklers
\n * Mechanical sprayer
\nFrom 18% to 5%
\nThe GST Council recommended the reduction of GST rate from 18% to 5% to the following goods-
\n * Tamarind Kernel Powder
\n * Mehendi paste in cones
\n * LPG supplied for supply to household domestic consumers by private LPG distributors
\n * 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.
\nThe GST Council recommended the reduction of IGST rate from 18% to 5% to the following goods-
\n * Satelli<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\nThe GST Council recommended NIL rate of compensation cess from the applicable rate to the following-
\n * Motor vehicles (falling under heading 8702,as it was in excise regime) cleared as ambulances, duly fitted with all fitments, furniture and accessories necessary for an ambulance from the factory manufacturing such vehicles. 10 – 13 seater ambulances, subject to specified conditions;
\n * 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;
\n * 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.
\nExemption from GST\/IGST for certain services
\nThe GST Council recommended exemption from GST for the f<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\n * 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.
\n * Dollar denominated services provided by financial intermediaries located in IFSC SEZ, which have been deemed to be outside India to a person outside India.
\n * 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 <\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\n * Subscription of online educational journals\/periodicals by educational institutions who provide degree recognized by any law from GST.
\n * Renting of transport vehicles provided to a person providing services of transportation of students, faculty and staff to an educational institution providing education up to higher secondary or equivalent.
\n * 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.
\n * Government's share of profit petroleum from GST and to clarify that cost petroleum is not taxable per se.
\nChange in rate for services
\nReduction in rate
\n * From 28% to 18%
\n * Admission to theme parks, water parks, joy rides, merry-go-rounds, go-caring and ballet.
\n * From 18% to 12%-
\n * GST rate on construction of metro and monorail projects (construction, ere<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n