The 53rd GST Council met under the Chairpersonship of Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman in New Delhi today i.e., June 22, 2024. The GST Council has made the following recommendations to clarify the GST rates:
1. The Council has recommended that the uniform rate of 5% IGST would apply to import of Parts, components, testing equipment, tools and tool-kits of aircrafts, irrespective of the HS classification to provide a fillip to MRO activities subject to specified conditions.
2. The Council has recommended that All milk cans (of steel, iron and aluminium) irrespective of their use would attract 12% GST
3. The Council has recommended that GST rate on ‘carton, boxes and cases of both corrugated and non-corrugated paper or paper-board’ (HS 4819 10; 4819 20) would be reduced from 18% to 12%
4. The Council has recommended that All solar cookers whether single or dual energy source, would attract 12% GST.
5. The Council has recommended amending existing entry covering Poultry keeping Machinery attracting 12% GST to specifically incorporate “parts of Poultry keeping Machinery” and to regularise past practice on ‘as is where is’ basis in view of genuine interpretational issues
6. The Council has recommended clarifying that all types of sprinklers including fire water sprinklers will attract 12% GST and to regularise the past practice on ‘as is where is’ basis in view of genuine interpretational issues
7. The Council has recommended extending IGST exemption on imports of specified items for defence forces for a further period of five years till 30th June, 2029.
8. The Council has recommended extending IGST exemption on imports of research equipment/buoys imported under the Research Moored Array for African-Asian-Australian Monsoon Analysis and Prediction (RAMA) programme subject to specified conditions
9. The Council has recommended exempting Compensation Cess on the imports in SEZ by SEZ Unit/developers for authorised operations w.e.f. 01.07.2017
The Press Release can be accessed at: https://a2z-bucket.s3.ap-south-1.amazonaws.com/PIB2027982.pdf