GST Council may Propose increasing GST rate on supply of bricks to 12% from 5% with ITC

GST Council may Propose increasing GST rate on supply of bricks to 12% from 5% with ITC As per news Sources, GST Council may Propose increasing the G…

CA Deepak Gupta

Sep 14, 2021

Last update on Sep 14, 2021

GST Council may Propose increasing GST rate on supply of bricks to 12% from 5% with ITC

As per news Sources, GST Council may Propose increasing the GST rate on supply of bricks to 12% from 5% with ITC
GST council to discuss observations made by GoM on capacity-based GST on specific items
GST Council to deliberate on job work services w.r.t. food & food products

GOM Recommendation

The Council may introduce a special composition scheme in the brick kiln sector with effect from 1st April 2022
Prescribe GST rate of 6% without ITC similar to the rate in the service sector
Introduce GST Liability under Reverse Charge Mechanism [RCM] on mentha at 1st stage of supply

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CA Deepak Gupta

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CA Deepak Gupta,is Co-founder of Studycafe. He is Microsoft Office Specialist and Corporate Trainer of AI Tools, Microsoft Excel. He is Finance Influencer having more than 250K followers on Social Media. CA Deepak Gupta, is Having more than 14 plus years of experience, and he has Worked with best brands Like, Hero, Wipro, Ericsson before Starting Studycafe. He has Trained more than 20000 Persons in Microsoft Excel, PowerPoint, Power BI, Google Sheet, Google Forms and Other Tools.