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Table of Contents
GST Rates Revision in the 42nd GST Council Meeting
The 42nd GST council meeting was conducted on October 5, 2020. In the 42nd GST Council meeting, the rate of GST was revised and the following GST Rates decisions were made.
- Sanitizers that aren’t based on alcohol will continue to be taxed at an 18 percent rate.
- To promote space launching services in India, ISRO, Antrix Corporation, and New Space India Limited (NSIL) have offered GST exemptions to satellite launch services.
GST Rates Revision in the 39th GST Council Meeting
The 39th GST Council meeting was held in New Delhi on Saturday, March 14, 2020.In the 39th GST Council meeting, the GST rate was revised.The new rates went into effect on April 1, 2020. The rate reduction announced during the 39th GST Council meeting are as follows:
|Item||Old Rate||New Rate|
|Aircraft MRO (Maintenance, Repair, Overhaul) services||18%||5% (with full ITC)|
|Other than handmade matches||18%||12%|
|Mobile phones and specified parts||12%||18%|
38th GST Council Meeting GST Rates Revision
On Wednesday, December 18, 2019, the 38th GST Council meeting was held in New Delhi. In the 38th GST Council meeting, the GST rate was revised. Changes to the GST rate for lottery began on March 1, 2020, and for bags and sacks began on January 1, 2020. At the 38th GST Council meeting, the following rate cuts were announced:
|Item||Old Rate||New Rate|
|Woven and non-woven fabrics||12%||18%|
|Sacks of Polythene and Polypropylene in nature||12%||18%|
GST Rates Revision in the 37th GST Council Meeting
On Friday, 20th September 2019 the GST Council held its 37th meeting in Goa. In the 37th GST Council meeting, the GST rate was revised. The new GST rates went into effect on October 1, 2019. The rate reduction announced during the 37th GST Council meeting are as follows:
|Item||Old Rate||New Rate|
|Supplies of Railways wagons & coaches (without refund of accumulated ITC)||5%||12%|
|Caffeinated Beverages||18%||28%+12% cess|
|Hotels (Room Tariff from Rs 1,001 to Rs 7,500)||18%||12%|
|Hotels (Room Tariff of Rs.7501 or above)||28%||18%|
|Outdoor Catering (without ITC)||18%||5%|
|Other Job work||18%||12%|
|Diamond Job work||5%||1.50%|
|Woven/ Non-woven Polyethylene Packaging bags||18%||12%|
|Wet grinders (consisting of stone as a grinder)||12%||5%|
|Specified goods for petroleum operation under HELP*||Applicable Rate||5%|
|Plates and cups made of flowers, leaves, and bark||5%||Nil|
|Semi-precious stones- cut & polished||3%||0.25%|
Policy on Hydrocarbon Exploration Licensing
|Item||Current Rate||New Rate|
|Cess on Diesel Motor Vehicles (Capacity of 10-13 passengers)||15%||3%|
|Cess on Petrol Motor Vehicles (Capacity of 10-13 passengers)||15%||1%|
GST Exemption Possible Items
GST exemption is possible for the following items:
- Imports of some defense goods that aren’t made in the United States (up to 2024)
- Providing supplies to the Food and Agriculture Organization (FAO) in India for certain initiatives.
- For the FIFA Under-17 Women’s Football World Cup in India, supplies would be made to FIFA-specified individuals.
- Specific agencies are allowed to import Silver or Platinum (Diamond India Ltd)
- Specific agencies (Diamond India Ltd) supply silver/platinum for export.
GST Rates Revision in the 36th GST Council Meeting
On Saturday, 27th July 2019the GST Council held its 36th meeting via video conference. In the 36th GST Council meeting, the GST rate was revised. Local authorities are provided a complete exemption from hiring e-buses with a seating capacity of more than 12 people. After the CBIC notification, it went into force on August 1, 2019. The rate reduction announced during the 36th GST Council meeting are as follows:
GST Rates Revision in the 33rd GST Council Meeting
Finance Minister Arun Jaitley presided over the meeting. The real estate market was in the spotlight. This was the first one following the 2019 Interim Budget. The GST rates for under-construction houses were cut without the benefit of an ITC, there were no modifications to the GST rates on lottery tickets or cement. The meeting of the 33rd GST Council had been delayed from February 20th to February 24th, 2019.
31st GST Council Meeting GST Rates Revision
The GST Council had its 31st meeting on December 22, 2018. The GST rates for 23 items and three services have been updated. The following is a simplified representation of the rate cuts for both goods and services:
|List of Goods or Services||Changes in Tax Rate|
|Music Books||12% to Nil|
|Vegetables cooked/uncooked via steamed, frozen, or boiled (branded)||5% to Nil|
|Vegetables provisionally preserved but unsuitable for immediate consumption||5% to Nil|
|Natural cork||12% to 5%|
|Parts for manufacturing renewable energy devices falling under chapters 84, 85, or 94 of Tariff||5%|
|Agglomerated cork||18% to 12%|
|Articles of Natural cork||18% to 12%|
|Walking sticks||12% to 5%|
|Marble rubble||18% to 5%|
|Fly ash blocks||12% to 5%|
|Cork roughly squared or debugged||18% to 12%|
|Premium on Third-party insurance on Vehicles||18% to 12%|
|Movie Tickets < or = Rs 100||18% to 12%|
|Power banks||28% to 18%|
|Accessories for Handicapped Mobility Vehicles||28% to 5%|
|Colour Television Sets & monitors up to “32 Inches”||28% to 18%|
|Digital & Video Camera recorders||28% to 18%|
|Video game consoles, types of equipment used for Billiards and Snooker, and other sport-related items of HSN code 9504||28% to 18%|
|Retreated & used pneumatic Rubber Tyres||28% to 18%|
|Pulleys, transmission shafts, cranks, and gearboxes under HSN 8483||28% to 18%|
|The tax rate on Air travel of pilgrims reduced*||28% to 18%|
- For religious pilgrimage travel by non-scheduled/chartered operations facilitated by the GoI under bi-lateral agreements.GST is now levied as follows on the composite supply of products attracting a 5% GST rate when it is supplied in conjunction with the provision of construction services and other commodities for a solar power plant:
- 70% of the value is deemed a supply of goods and is subject to a 5% GST.
- The remaining 30% of the EPC contract value is service supply, which is taxed at the regular rate.
- A 5%/18% rate will be charged dependent on the transaction value of the footwear.
- From the current 5%/12% GST rate on Flexible Intermediate Bulk Containers (FIBC), a uniform GST rate of 12 percent will be implemented (depending on the value).
Services Considered for Exemption
The Services that have been considered for exemption are as follows:
- Rehabilitation specialists recognized under the Rehabilitation Council of India Act, 1992 provide services at government-run hospitals, schools, and rehabilitation centers, as well as charitable organizations registered under Section 12AA of the Income Tax Act, 1961.
- The government provides loan guarantee services to its undertakings and PSUs for bank loans.
- Under the Pradhan Mantri Jan Dhan Yojana, banks provide services to Basic Savings Bank Deposit (BSBD) account holders (PMJDY)
- Vehicles imported for a limited time under the Customs Convention on Temporary Importation of Private Road Vehicles (carnet de passages-en-douane) will be excluded from the IGST and Compensation.
- Nominated Agencies supply gold to exporters of gold jewelry articles.
- The proceeds of an auction of presents received by the President, Prime Minister, Governor, or Chief Minister of a State, and public workers, with the revenues going to a public or charitable cause.
GST Rate Revision in the 28th GST Council Meeting
The 28th GST Council Meeting took place on July 21, 2018. The GST rates for 45 items and two services have been updated.
|Items||New Rate||Old rate|
|Circulation and commemorative coins||Nil||5%|
|Rakhi (other than that of precious or semi-precious material )||Nil||18%|
|Sal leaves and their products||Nil||18%|
|Phosphoric Acid (fertilizer grade only)||5%||12%|
|Raw material for broom||Nil||12%|
|Knitted cap/topi having retail sale value exceeding Rs. 1000||5%||12%|
|Coir pith Compost||Nil||5%|
|Chenille fabrics and other fabrics under 5801||5%||12%|
|Handmade Carpets, Textile Floor, Coverings||5%||12%|
|Solid Biofuel pellets||5%||18%|
|Ethanol for sale to oil marketing companies for blending with fuel||5%||18%|
|Kota Stones and Similar Stones (other than polished)||5%||18%|
|Handicrafts (Excluding handmade)||12%||18%|
|Hand Operated Rubber Roller||12%||18%|
|Glaziers’ putty, grafting putty, resin cement||18%||28%|
|Zip and Slide Fastener||12%||18%|
|Brass Kerosene Pressure Stove||12%||18%|
|Handbags including pouches and purses; jewelry box||12%||18%|
|Fuel Cell vehicle||12%||28%|
|Televisions up to 68 cm||18%||28%|
|Refrigerators, freezers, water cooler, milk coolers, ice cream freezer||18%||28%|
|Food Grinders & mixer||18%||28%|
|Shaver’s, Hair Clippers||18%||28%|
|Paints and Varnishes (including enamels and lacquers)||18%||28%|
|Storage water heaters||18%||28%|
|Electric Smoothing irons||18%||28%|
|Hair Dryers, Hand Dryers||18%||28%|
|Pads for application of cosmetics or toilet preparations||18%||28%|
|Work Trucks (Self-propelled, not fitted with lifting or handling equipment)||18%||28%|
|Trailers & Semi-trailers||18%||28%|
|Special purpose motor vehicles||18%||28%|
Recent changes in GST Rates on Services
The recent changes announced during the 28thGST Council meeting are given in the table below:
|Services||New GST Rates||Old GST Rates|
|Supply of Multimodal Transportation||12%||Nil|
|Supply of e-books||5%||18%|
Exempt Services List of 28th GST Council Meeting
The exempted service list of the 28th GST Council meeting are given in the table below:
|Farmers or Agriculture||Services supplied in the form of small forest produce warehousing Services for artificial insemination of cattle (other than horses) Services offered by DISCOMS for extending the power distribution network for agricultural usage, including installation and commissioning.FSSAI services for food enterprises|
|Government||Government assistance to ERCC through the assignment of the right to collect royalties from mining leaseholders.Guarantees provided by the federal and state governments to their undertakings/Public Sector Undertakings|
|Senior Citizens||Services supplied by state/federal government-run old age homes to residents over 60 years of age for up to Rs. 25000 GST-free administrative charge collected by National Pension System TrustServices offered to PF subscribers by the Coal Mines Provident Fund Organization|
|Miscellaneous||Instead of the declared tariff, GST rate slabs would be applied to the real pricing for hotel services. Services imported by foreign diplomatic missions, the United Nations, and other international organizations|
|Banking, finance, and insurance||Insurance services to insurance schemes like the Pradhan Mantri National Health Protection Mission|
GST Rates Revision in the 25th GST Council Meeting
According to the 25th GST Council meeting held on January 18, the GST Council issued the much-anticipated pronouncements about tax rates on various categories of commodities at Vigyan Bhavan in Delhi. For a long time, there has been a lot of buzz about these prices, and now they are officially available to the public.
|Services||Reduced or increased|
|Old and used motor vehicles, Medium and large cars and SUVs without ITC, Public transport Buses that run on Biofuel, Services of joy rides, Go-karting||Reduced from 28% to 12%|
|Goods like Vibhuti, De-oiled rice bran, and parts used to manufacture hearing aids||taxed at 0%|
|LPG for household use, Mehndipastes in cones, Tamarind Kernel Powder, Services of Tailoring, Raw materials, and Consumables needed for Launch vehicles/satellites||Reduced from 18% to 5%|
|Rice bran or other than de-oiled rice bran||Increased from 0% to 5%|
|Articles of straw, of esparto or other plaiting materials, Velvet fabric Without Refund of ITC||Reduced from 12% to 5%-|
|Cigarette filter rods||Rate Increased from 12% to 18%|
|Diamonds and precious stones||Reduced from 3% to 0.25%|
|Drinking water packed in 20 liters bottles, sprinklers, Biodiesel, Sugar boiled Confectionery, Drip irrigation system, mining of petrol crude services of construction of metro / mono-rail||Reduced from 18% to 12%|
Exempt Services List of 25th GST Council Meeting
The Services included in the Exemption List are:
- Legal services provided to Government
- Providing information under RTI Act, 2005
- Admission to, or conduct of examination provided to all educational institutions including any service of conducting entrance examinations on a collection of entrance fees.
GST Rates Revision in the 23rd GST Council Meeting
GST Rates for 178 commodities were decreased from 28 percent to 18 percent at the 23rd GST Council meeting on November 10, 2017.
- Under the composition scheme, the GST rate for manufacturers and traders is 1%.
- Reduced from 18% to 12% – Condensed milk, refined sugar, diabetic food
- Reduced from 28% to 12% – Wet grinders, tanks
- 28% to 18% Reduction W.e.f. 15th Nov 2017 – Shampoo, Perfume, tiles, watches
- Reduced from 12% to 5% – Desiccated coconut, idlidosa batter, coir products
- Reduced from 5% to Nil – Duar meal, Khansari sugar, dried vegetables
- Outdoor catering continues to be charged at 18% with the availability of ITC on inward supplies.
- For Restaurants within hotels, and room tariff greater than Rs. 7,500 the GST rate is 18% and credit of ITC paid on inward supplies can be availed.
- For Restaurants within hotels, and room tariff less than Rs. 7,500 the GST rate is 5%. Also, the credit of ITC paid on inward supplies cannot be taken.
GST Rates Structure Under 5%, 12%, 18%, and 28%
The GST slabs are 5 percent, 12 percent, 18 percent, and 28 percent, as we well know. The tax structure for common-use products are as follows, according to the latest GST news from the GST council:
|0%||Lassi||Children’s Drawing & Colouring Books|
|0%||Unbranded Natural Honey||Prasad|
|0%||Unpacked Foodgrains||Unbranded Atta|
|0%||Unpacked Paneer||Unbranded Maida|
|0%||Fresh Vegetables||Palmyra Jaggery|
|5%||PDS Kerosene||Skimmed Milk Powder|
|5%||Fabric||Coir Mats, Matting & Floor Covering|
|5%||Domestic LPG||Roasted Coffee Beans|
|5%||Cashew Nuts||Footwear (< Rs.500)|
|5%||Milk Food for Babies||Apparels (< Rs.1000)|
|5%||Life-saving drugs||Coffee (except instant)|
|5%||Coal||Mishti/Mithai (Indian Sweets)|
|12%||Packed Coconut Water||Umbrella|
|12%||Fruit Juice||Preparations of Vegetables, Fruits, Nuts or other parts of Plants including Pickle Murabba, Chutney, Jam, Jelly|
|18%||Hair Oil||Capital goods|
|28%||Luxury & sin items like BMWs, cigarettes, and aerated drinks (+15% cess)|
|28%||Consumer durables such as AC and fridge||Beedis are NOT included here|
|28%||Small cars (+1% or 3% cess)||High-end motorcycles (+15% cess)|
A few other items were included in the Council’s announcement of GST Rates in addition to the above. These are the items, as well as the GST Rates that apply to them:
GST Slabs for Goods
1. Tax Slab of 5%
- Indian sweets will be taxed at 5%.
- Coal will be taxed at 5% instead of the current 11.69%. This will benefit the power sector as well as heavy sectors that rely on coal. This will also assist to keep inflation in check. Coal India should have a good day tomorrow.
- Edible oil, tea, coffee, and sugar would be subject to a 5% tax, but milk and cerealswill be excluded from the GST. This is to ensure that basic commodities may be purchased at a reasonable cost. Instant food, on the other hand, has been excluded from this category like Maggie.
2. Tax Slab of 18%
- Soaps, hair oil, and Toothpastes will all be taxed at 18 percent, down from 28 percent today. This tax cut should benefit the majority of cosmetics and fast-moving consumer goods (FMCG) firms.
3. Services under GST Slabs
- Education and healthcare will be free from GST.
- GST on non-air-conditioned restaurants will be 12 percent.
- The tax percentage for businesses that serve alcohol will be 18%.