The GST Council’s 47th meeting was held in Chandigarh on June 28th and 29th, 2022 under the chairmanship of the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman. The GST Council has inter-alia made the following recommendations relating to changes in rate w.e.f. July 18, 2022:
|
S. No. |
Description | From | To |
|
Goods |
|||
|
1. |
Ostomy Appliances | 12% | 5% |
| 2. |
Orthopedic appliance- Splints and other fracture appliances; artificial parts of the body; other appliances which are worn or carried, or implanted in the body, to compensate for a defect or disability; intraocular lens |
12% |
5% |
|
3. |
Tetra Pak (Aseptic Packaging Paper) |
12% | 18% |
| 4. |
Tar (whether from coal, coal gasification plants, producer Gas plants and Coke Oven Plants. |
5%/18% |
18% |
|
5. |
IGST on import of Diethylcarbamazine (DEC) tablets supplied free of cost for National Filariasis Elimination Programme |
5% | Nil |
| 6. | Cut and Polished diamonds | 0.25% |
1.5% |
|
7. |
IGST on specified defence items imported by private entities/vendors, when end-user is the Defence forces. |
Applicable rate |
Nil |
|
Services |
|||
|
1. |
Transport of goods and passengers by ropeways. | 18% | 5% (with ITC of services) |
| 2 |
Renting of truck/goods carriage where cost of fuel is included |
18% |
12% |
The Press release can be accessed at: https://www.pib.gov.in/PressReleasePage.aspx?PRID=1838020
We have recently released the 7th Edition (May, 2022) of our book on Goods and Services Tax, titled, “GST LAW AND COMMENTARY – WITH ANALYSIS AND PROCEDURES”, updated with the Finance Act, 2022 in a set of 4 Volumes. We thank you all for the support and your enduring response.
Have a look at the complete tour of the Book at: https://cutt.ly/nF6O0oN
Order your copy now and be a part of the GST learning excursion in the most comprehensive and lucid form !!
For more details and purchase online at: https://cutt.ly/RFMox8D