The GST Council’s 50th meeting was held in Delhi on July 11, 2023, under the chairmanship of the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman. The GST Council has inter-alia made the following recommendations to clarify the GST rates:
- It has been decided to include RBL Bank and ICBC Bank in the list of specified banks for which IGST exemption is available on imports of gold, silver or platinum and update the list of banks /entities eligible for such IGST exemption as per Annexure 4B (HBP) of Foreign Trade Policy 2023.
- Consequential changes in notifications may be carried out in view of the new Foreign Trade Policy 2023.
The Press Release can be accessed at: https://www.pib.gov.in/PressReleasePage.aspx?PRID=1938812