18% GST may soon be applicable on Coconut Oil

As per News sources, the Fitment Committee of GST recommended an 18% GST on coconut oil sold in unit containers of less than one litre and a 5% GST on units sold in containers of one litre or more.

This recommendation is expected to be made in the upcoming GST Council Meeting.

The 45th GST Council Meeting is to be held on 17th Sep in Lucknow.

Some other recommendations by Fitment Committee:

Goods

• Paper sacks are subject to an 18% GST levy (used extensively by ecomm players)
• GST on fortified rice kernels is reduced from 18% to 5%.
• Oncology medicines: Reduce GST rates from 12% to 5%.
• Pens: Increase the GST rate from 12% to 18%.
• UPS: Treat as if it were an external battery (current rates: UPS 18 percent , external battery 28 percent )
• GST on railway parts and locomotives will be raised from 12% to 18%.
• Biodiesel supplied to OMCs: Reduce GST to 5% from 12%.
• Increase the GST on printed materials from 12% to 18%.
• Increase the GST rate on renewable energy equipment from 5% to 12%.
• Iron, manganese, copper, nickel, cobalt, aluminium, lead, zinc, tin, and chromium: Increase from 5% to 18%
• Clarification on the 12 percent concessional GST rate for diagnostic and laboratory reagents

Services

• IRFC leasing rolling stock to Indian Railways to be exempt from GST *Cloud kitchens to be treated as restaurant services and charged at 5%
• To treat the GST rate on “Motion Picture, Video Tape, and Television Programme Distribution Services” at a unified rate of 18%.
• Treat overloading charges collected at toll plazas in the same manner as tolls.
• Sand mining in the Ghats will be taxed at 18%.
• GST may be exempted on the national permit fee charged for granting a permit to a goods carriage to operate throughout India/contiguous states.