The GST Council Meeting on Friday decided to make changes in the GST rates of certain goods. The 22nd GST Council Meeting held under the Chairmanship of Union Finance Minister Arun Jaitley also decided to cut IGST rates on Imports of specified Goods have been recommended. Soon after, Prime Minister Narendra Modi hailed the GST Council’s decision to lower rates for 27 commodities and increase the turnover threshold to Rs 1 crore. In a series of tweets, the Prime Minister said that the new changes will made the Goods and Services Tax “simpler”.
Read: GST relief for small firms, rates cut for many groups
Below is the list of items on with GST has been reduced
S.
No. |
Chapter/
Heading/ Sub-heading/ Tariff item |
Description | Present GST Rate | GST Rate Recommended by the GST Council |
1. | 0804 | Mangoes sliced dried | 12% | 5% |
2.
|
1905 or 2106 | Khakra and plain chapati / roti | 12% | 5% |
3. | 19 or 21
|
Food preparations put up in unit containers and intended for free distribution to economically weaker sections of the society under a programme dulyapproved by the Central Government or any State Government, subject to specified conditions [Foot note 1] | 18%
|
5 %
|
4. | 21 | Namkeens other than those put up in unit container and, –
(a) bearing a registered brand name; or (b) bearing a brand name on which an actionable claim or enforceable right in a court of law is available [other than those where any actionable claim or enforceable right in respect of such brand name has been foregone voluntarily Story continues below this ad [Foot note 2] |
12% | 5% |
5. | 2710 | Imposing GST only on the net quantity of superior kerosene oil [SKO] retained for the manufacture of Linear Alkyl Benzene [LAB] | 18% | 18%
[Clarification to be issued] |
6. | 30 | Ayurvedic, Unani, Siddha, Homeopathy medicines, other than those bearing a brand name
[Foot note 3] |
12% | 5% |
7. | 3213 | Poster Colour | 28% | 18% |
8. | 3407 | Modelling paste for children amusement | 28% | 18% |
9. | 3915 | Plastic waste, parings or scrap | 18% | 5% |
10. | 4004 00 00 | Rubber waste, parings or scrap | 18% | 5% |
11. | 4017 00 20 | Hard Rubber waste or scrap | 28% | 5% |
12. | 4707 | Paper waste or scrap | 12% | 5% |
13. | 4907 | Duty credit scrips | 5% | Nil |
14. | 5401 | Sewing thread of manmade filaments, whether or not put up for retail sale
|
18% | 12% |
15. | 5402, 5404, 5406 | All synthetic filament yarn, such as nylon, polyester, acrylic, etc.
|
18% | 12% |
16. | 5403, 5405, 5406 Story continues below this ad
|
All artificial filament yarn, such as viscose rayon, Cuprammonium, | 18% | 12% |
17. | 5508 | Sewing thread of manmade staple fibres
|
18% | 12% |
18. | 5509, 5510, 5511 | Yarn of manmade staple fibres | 18% | 12% |
19. | 5605 | Real Zari | 12% | 5% |
20. |
6802 |
All goods falling under heading 6802 [other than those of marble and granite or those which attract 12% GST] | 28% | 18% |
21. | 7001 | Cullet or other waste or scrap of Glass
|
18% | 5% |
22. | 8305 | Fittings for loose-leaf binders or files, letter clips, letter corners, paper clips, indexing tags and similar office articles, of base metal; staples in strips (for example, for offices, upholstery, packaging), of base metal
|
28% | 18% |
23. | 8483 | Plain Shaft Bearing 8483 | 28% | 18% |
24. | 84 | Parts suitable for use solely or principally with fixed Speed Diesel Engines of power not exceeding 15HP Story continues below this ad
|
28% | 18% |
25. | 84 or 85 | Parts suitable for use solely or principally with power driven pumps primarily designed for handling water, namely, centrifugal pumps (horizontal and vertical), deep tube-well turbine pumps, submersible pumps, axial flow and mixed flow vertical pumps | 28% | 18% |
26. | 84 or 85 | E-Waste | 28%/18% | 5% |
27. | Any Chapter | Biomass briquettes | 18% | 5% |
Below is the list of goods getting IGST exemption from now
Description | Present applicable IGST rate | Recommended IGST rate | |
1 | IGST exemption on imports of rigs imported for oil / gas exploration and production projects under lease, subject to the following conditions that:
(i) Integrated tax leviable under section 5(1) of the IGST Act, 2017 on supply of service covered by item 1(b) or 5(f) of Schedule II of the Central Goods and Services Tax Act, 2017; (ii) The rig is not sold without the prior permission of the Commissioner of Customs of the port of importation; Story continues below this ad (iii) to re-export the goods within 3 months from the expiry of the period for which they were supplied under a transaction covered by item 1(b) or 5(f) of Schedule II of the Central Goods and Services Tax Act, 2017 out of India; (iv) to pay on demand an amount equal to the integrated tax payable on the said goods but for the exemption under this notification in the event of violation of any of the above conditions and applicable interest. |
5% | Nil |
2 | Exemption from IGST on imports of medicines supplied free by international agencies like UNICEF, WHO, Red Cross etc.
|
12%/5% | Nil |
3 | A. Exemption from IGST on imports of bona fide gifts upto CIF value limit of Rs. 5000 imported through post or air.
|
28% | Nil |
Source: PIB.nic.in