The GST Council’s 48th meeting was held in Delhi on December 17, 2022 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:
- Rab (rab-salawat) is classifiable under CTH 1702 which attracts GST at the rate of 18%.
- fryums manufactured using the process of extrusion is specifically covered under CTH 19059030 and attract GST at the rate of 18%.
- The higher rate of compensation cess of 22% is applicable to motor vehicle fulfilling all four conditions, namely, it is popularly known as SUV, has engine capacity exceeding 1500 cc, length exceeding 4000 mm and a ground clearance of 170 mm or above
- goods falling in lower rate category of 5% under schedule I of notification No. 1/2017-CTR imported for petroleum operations will attract lower rate of 5% and the rate of 12% shall be applicable only if the general rate is more than 12%
The Press Release can be accessed at: https://www.pib.gov.in/PressReleasePage.aspx?PRID=1884399
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