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

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Studycafe | Sep 14, 2021 | Views 59634

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 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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