GST Council’s decisions On Rate Changes : 38th GST Council Meeting

GST Council’s decisions On Rate Changes Below are GST Council’s decisions On Rate Changes: • Single rate of GST @ 28% on both State run and State authorized lottery. This change shall become effective from 1st March, 2020. • Exemption to upfront amount payable for long term lease of industrial/ financial infrastructure plots by an entity having 20% or more ownership of Central or State Government. Presently, the exemption is available to an entity having 50% or more ownership of Central or State Government. This change shall become effective from 1st January, 2020. • Rate of GST rate on Woven and Non-Woven Bags and sacks of polyethylene or polypropylene strips or the like , whether or not laminated, of a kind used for packing of goods ( HS code 3923/6305), post the changes recommended on such goods in last meeting and • recommended to raise the GST to a uniform rate of 18%(from 12%) on all such bags falling under HS 3923/6305 including Flexible Intermediate Bulk Containers (FIBC). • This change shall become effective from 1st January, 2020 For Regular Updates Join : https://t.me/Studycafe Tags : GST, GST Annual Return, GSTR-9, GSTR-9C, News, Rule 36(4), E-WAY Bill, GST Council Meeting Updates