{"id":3495,"date":"2017-12-09T12:34:52","date_gmt":"2017-12-09T07:04:52","guid":{"rendered":"http:\/\/carajput.com\/blog\/?p=3495"},"modified":"2023-07-01T13:54:40","modified_gmt":"2023-07-01T08:24:40","slug":"revision-in-rates-of-gst","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/revision-in-rates-of-gst\/","title":{"rendered":"REVISION IN RATES OF GST"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Page Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69d2dedbe219b\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69d2dedbe219b\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/carajput.com\/blog\/revision-in-rates-of-gst\/#Rate_of_GST_reduced_on_large_number_of_goods_and_services\" title=\"Rate of GST reduced on large number of goods and services\">Rate of GST reduced on large number of goods and services<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/carajput.com\/blog\/revision-in-rates-of-gst\/#Notification_Nos_41_42_and_462017-Central_Tax_Rate_all_dated_14-11-2017_and_effective_from_15-11-2017\" title=\"Notification Nos. 41, 42 and 46\/2017-Central Tax (Rate), all dated 14-11-2017 and effective from 15-11-2017.\">Notification Nos. 41, 42 and 46\/2017-Central Tax (Rate), all dated 14-11-2017 and effective from 15-11-2017.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/carajput.com\/blog\/revision-in-rates-of-gst\/#Central_Board_of_Indirect_Taxes_and_CustomsCBIC_issued_Three_New_GST_Circular_on_20-09-2021\" title=\"Central Board of Indirect Taxes and Customs(CBIC) issued Three New GST Circular on 20-09-2021.\">Central Board of Indirect Taxes and Customs(CBIC) issued Three New GST Circular on 20-09-2021.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/carajput.com\/blog\/revision-in-rates-of-gst\/#45th_GST_Council_Meeting_key_Recommendation\" title=\"45th GST Council Meeting key Recommendation\u00a0\">45th GST Council Meeting key Recommendation\u00a0<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/carajput.com\/blog\/revision-in-rates-of-gst\/#Goods_and_Services_Tax_GST_on_sale_of_electric_vehicles\" title=\"Goods and Services Tax (GST) on sale of electric vehicles\">Goods and Services Tax (GST) on sale of electric vehicles<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Rate_of_GST_reduced_on_large_number_of_goods_and_services\"><\/span><span style=\"color: #ff0000;\"><strong>Rate of GST reduced on large number of goods and services<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As decided by the <a href=\"https:\/\/carajput.com\/gst\/gst-consultancy.php\">GST<\/a> Council\u00a0in its\u00a023rd meeting\u00a0held on 10thNovember, the rates of GST on number of products and services have been reduced.<\/p>\n<ul>\n<li>List of 28% GST rated goods has been pruned substantially, from 224 tariff headings to 50 tariff headings,<\/li>\n<li>Rates have also been reduced on several goods from 18% to 12% (Condensed milk; Pasta; Curry paste, mayonnaise and salad dressings; Medicinal grade oxygen, etc.),<\/li>\n<li>from 18% to 5% (fly ash; puffed rice chikki, peanut chikki, sesame chikki, revdi, tilrevdi, khaza, kazuali, groundnut sweets gatta, kuliya, etc.) and<\/li>\n<li>from 12% to 5% (finished leather, chamois and composition leather; fly ash brick, etc.).<\/li>\n<li>Similarly, rate of <a href=\"https:\/\/carajput.com\/gst\/gst-consultancy.php\">GST<\/a> on guar meal, khandsari sugar, bangles of lac \/ shellac, uranium ore concentrate and specified dried vegetables has come down to nil.<\/li>\n<li>In respect of services, stand-alone restaurants irrespective of being air conditioned or otherwise, would be liable to GST at the rate of 5%, without the facility of input tax credit (ITC).<\/li>\n<li>Restaurants in hotel premises having room tariff of less than Rs. 7500 per unit per day are also covered under this rate of tax, without ITC.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Notification_Nos_41_42_and_462017-Central_Tax_Rate_all_dated_14-11-2017_and_effective_from_15-11-2017\"><\/span><strong>Notification Nos. 41, 42 and 46\/2017-Central Tax (Rate), all dated 14-11-2017 and effective from 15-11-2017.<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li><strong>Exemption to tax payment at time of receipt of advance\u00a0&#8211;\u00a0Notification No. 66\/2017-Central Tax, dated 15-11-2017<\/strong>to exempt all registered persons [except taxpayers who opted for composition levy under Section 10 of CGST Act] from payment of tax on advances received in case of supply of goods<\/li>\n<li><strong>Registration exemption to specified service provider providing service through electronic commerce operator<\/strong><strong>&#8211;<\/strong>\u00a0This exemption is available to service providers having an aggregate turnover of less than Rs. 20 lakh (Rs. 10 lakh in case of special category States) in a financial year.\u00a0Notification No. 65\/2017-Central Tax, dated 15-11-2017.<\/li>\n<li><strong>Reduced rate of <a href=\"https:\/\/carajput.com\/gst\/gst-consultancy.php\">GST<\/a> for specified supplies to research institutions, etc. (Effective form 15-11-2017)<\/strong><strong>&#8211; <\/strong>Notification No. 45\/2017-Central Tax (Rate), dated 14-11-2017\u00a0has been issued to provide for 2.5% CGST on specified goods supplied to public funded research institutions, universities, IITs, NITs, IISC (Bangalore), research institutions, departments and laboratories of Central \/ State Governments and Regional Cancer Centre (Cancer Institute). This list excludes hospitals.<\/li>\n<\/ul>\n<p><strong><em><u>Read more about: <\/u><\/em><em><a href=\"https:\/\/carajput.com\/blog\/what-is-core-business-activity-in-gst\/\">What is core Business Activity GST<\/a><\/em><\/strong><\/p>\n<p><strong><em><u>Read more about<\/u><u>: <\/u><\/em><em><a href=\"https:\/\/carajput.com\/blog\/all-about-gst-offenses-penalties-appeals\/\">All about GST Offenses, Penalties, and Appeals<\/a><\/em><\/strong><\/p>\n<ul>\n<li><strong>IGST exemption to inter-State movement of rigs, tools and spares<\/strong><strong>&#8211;<\/strong>\u00a0Inter-State movement of such goods between distinct persons shall be treated neither supply of goods nor supply of services and no IGST will be levied.\u00a0Circular No. 21\/21\/2017-<a href=\"https:\/\/carajput.com\/gst\/gst-consultancy.php\">GST<\/a>, dated 22-11-2017\u00a0issued, however notes that such exemption will not be available if movement is for further supply of such goods, and that GST will be payable on repairs and maintenance of such goods.<\/li>\n<li><strong>EOUs \u2013Procedure for procurement from DTA<\/strong><strong>&#8211;<\/strong>\u00a0CBEC has prescribed procedure and safeguards in respect of supply of goods to EOU, in order to ensure smooth processing of refund claims in respect of such deemed exports. EOU in this regard is required to intimate, in a prescribed form, to the registered supplier and to jurisdictional officers of the supplier and that of EOU. As per Circular No.\u00a014\/14 \/2017-GST, dated 06-11-2017, tax invoice as endorsed by EOU will be considered as proof of deemed export supplies made by the registered supplier to the EOU.<\/li>\n<li><strong>Refund of unutilised ITC in case of export of fabrics, available<\/strong>&#8211;\u00a0Manufacturer of fabrics is eligible for refund of unutilized ITC of GST paid on inputs (other than ITC of GST paid on capital goods) in respect of fabrics manufactured and exported by him.\u00a0Circular No. 18\/18\/2017-GST, dated 16-11-2017\u00a0clarifying this, observes that restriction on refund of unutilised ITC under Notification No.5\/2017-Central Tax (Rate) would not apply to zero rated supplies.<\/li>\n<li><strong>Terracotta idols eligible for nil GST rate<\/strong><strong>&#8211;<\/strong>Tax Research Unit of the Ministry of Finance has clarified that as terracotta is clay based, terracotta idols will be eligible for Nil rate under Sl. No.135A of Notification No. 2\/2017-Central Tax (Rate), dated 28-6-2017, which prescribes nil rate for clay idols.\u00a0Circular No. 20\/20\/2017-IGST, dated 22-11-2017.<\/li>\n<li><strong>Milling of paddy into rice liable to <a href=\"https:\/\/carajput.com\/gst\/gst-consultancy.php\">GST<\/a>\u00a0-Circular No. 19\/19\/2017-GST, <\/strong>issued by Ministry of Finance clarifying that milling of paddy into rice on job work basis is liable to GST at the rate of 5%, on the processing charges (and not on the entire value of rice) under Sl. No. 26 -of Notification No. 11\/2017-Central Tax (Rate).\u00a0 According to this circular milling of paddy is not an intermediate production process in relation to cultivation of plants.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Central_Board_of_Indirect_Taxes_and_CustomsCBIC_issued_Three_New_GST_Circular_on_20-09-2021\"><\/span><span style=\"color: #000080;\">Central Board of Indirect Taxes and Customs(CBIC) issued Three New GST Circular on 20-09-2021.<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><a href=\"https:\/\/carajput.com\/press-releases\/cbic-issued-three-new-gst-circular-on-intermediary-certain-gst.pdf\">CBIC issued Three New GST Circular on Intermediary, Certain GST related issues, export of services- condition section 2(6)(v).<\/a> The details of the circulars are as under:<\/p>\n<ul>\n<li>159\/15\/2021-GST &#8211; Clarification on doubts related to scope of \u201cIntermediary\u201d<\/li>\n<li>160\/16\/2021-GST &#8211; Clarification in respect of certain GST related issues<\/li>\n<li>161\/17\/2021-GST &#8211; Clarification relating to export of services- condition (v) of section 2(6) of the IGST Act 2017<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"45th_GST_Council_Meeting_key_Recommendation\"><\/span><span style=\"color: #ff0000;\"><span style=\"color: #ff0000;\"><a href=\"https:\/\/www.caindelhiindia.com\/blog\/45th-gst-council-meeting-key-takeaways-recommendations-etc\/\"><strong>45th GST Council Meeting key R<span style=\"font-size: 24px;\">ecommendation<\/span><\/strong><\/a><strong>\u00a0<\/strong><\/span><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<h2><span class=\"ez-toc-section\" id=\"Goods_and_Services_Tax_GST_on_sale_of_electric_vehicles\"><\/span><strong>Goods and Services Tax (GST) on sale of electric vehicles<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>GST on sale of electric vehicles has been reduced from 12% to <b>5%<\/b>. Road Transport &amp; Highways Ministry has advised state govts to waive road tax on purchase of electric vehicles.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone  wp-image-24882\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2017\/12\/ev.jpg\" alt=\"gst on ev vehicles\" width=\"884\" height=\"1572\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2017\/12\/ev.jpg 720w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2017\/12\/ev-169x300.jpg 169w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2017\/12\/ev-576x1024.jpg 576w\" sizes=\"(max-width: 884px) 100vw, 884px\" \/><\/p>\n<p>For query or help, contact: <a href=\"https:\/\/carajput.com\/\">\u00a0singh@carajput.com\u00a0<\/a>or call at \u00a009811322785\/4, 9555 555 480<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rate of GST reduced on large number of goods and services As decided by the GST Council\u00a0in its\u00a023rd meeting\u00a0held on 10thNovember, the rates of GST on number of products and services have been reduced. List of 28% GST rated goods has been pruned substantially, from 224 tariff headings to 50 tariff headings, Rates have also &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[172,4],"tags":[602,601,604,463,599,600,598,464,462,465,603,466],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/3495"}],"collection":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/comments?post=3495"}],"version-history":[{"count":6,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/3495\/revisions"}],"predecessor-version":[{"id":24884,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/3495\/revisions\/24884"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=3495"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=3495"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=3495"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}