Download ppt on analysis of 52nd GST Council Meeting Recommendations

The 52nd Meeting of the GST Council was held on 7th October 2023 in New Delhi, under the chairpersonship of the Union Finance and Corporate Affairs Minister Smt. Nirmala Sitharaman.

The Press releases dated 07-10-2023, after the GST Council meeting inter-alia briefed the following recommendations.

A. Recommendations relating to GST rates on goods and services.

i. Changes in GST rates of goods.
ii. Other changes relating to Goods.
iii. Changes in GST rates of services.
iv. Other changes relating to Services.

B. Measures for facilitation of trade.

C. Other measures pertaining to law and procedures.

Changes in GST Rates of Goods

• Millet flour in powder form is blended with any other atta with 70% composition of millets under (HS1901) to attract 0% GST if sold loose and 5% GST if sold pre-packaged and labelled.
• GST on molasses has been reduced from 28% to 5%.
• GST on ENA for industrial use to attract 18% by a separate tariff HS code.
• 5% GST on imitation zari thread or yarn made out of metallised polyester film or plastic film (HS 5605) without refund due to inversion.

Changes in GST Rates of Services

• GST exempted on water supply services, public health, etc., supplied to the government authorities, including composite services with up to 25% of the above services.
• A conditional IGST exemption is given to a foreign flag and foreign going vessel when it converts to coastal run subject to its reconversion in six months.
• GST exempted on pure and composite services to Central/State/UT governments and local authorities for Panchayat/Municipality functions.
• Bus operator companies selling through e-commerce are excluded from CGST Section 9(5) to allow them to pay GST and avail ITC claims.
• All services provided by Indian Railways will be subjected to forward charge, with ITC available for discharging liabilities.

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