GST Rate Changes as per 38th GST Council Meeting as Notified by CBIC

GST Rate Changes as per 38th GST Council Meeting as Notified by CBIC Summary of GST Rate Changes as per 38th GST Council Meeting as Notified by CBIC is given below for reference: Single GST Rate of 18% notified for Woven and Non-Woven Bags In 38th GST Council meeting, it was proposed that Single GST Rate would be notified 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. Therefore in line of that decision, Single GST Rate on woven bags of 18% is thus being notified for the both types of bags. Notification Changed GST Rate on upfront amount of long term lease of industrial/ financial infrastructure GST Exempted on upfront amount of long term lease of industrial/ financial infrastructure plots by an entity having 20% or more ownership of Central or State Government In 38th GST Council meeting, it was proposed To exempt 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. Same has been notified now. Notification [caption id="attachment_85941" align="aligncenter" width="479"] Changed GST Rate on upfront amount of long term lease of industrial/ financial infrastructure[/caption] RCM applicable on Services provided by way of renting of any motor vehicle to body corporate In 38th GST Council meeting it was proposed that RCM should be applicable on Services provided by way of renting of any motor vehicle, provided to a body corporate by a Non Body Corporate, who does not issue an invoice charging central tax at the rate of 6 per cent. Same has been notified now. Notification This has been explained with the help of below mentioned examples:

Mr A (Service Receiver)	Mr B (Service Provider)	Type of Services	Service Provider is Registered	GST Rate Charged by Service Provider on Tax Invoice	Whether RCM Applicable
Body Corporate	Body Corporate	Services provided by way of renting of any motor vehicle designed to carry passengers where the cost of fuel is included in the consideration	Yes	12	No
Body Corporate	Body Corporate	Services provided by way of renting of any motor vehicle designed to carry passengers where the cost of fuel is included in the consideration	No	NA	No
Body Corporate	Non Body Corporate	Services provided by way of renting of any motor vehicle designed to carry passengers where the cost of fuel is included in the consideration	Yes	12	No
Body Corporate	Non Body Corporate	Services provided by way of renting of any motor vehicle designed to carry passengers where the cost of fuel is included in the consideration	Yes	Less than 12 (Say 5)	Yes
Body Corporate	Non Body Corporate	Services provided by way of renting of any motor vehicle designed to carry passengers where the cost of fuel is included in the consideration	No	NA	Yes
Non Body Corporate	Non Body Corporate	Services provided by way of renting of any motor vehicle designed to carry passengers where the cost of fuel is included in the consideration	No	NA	No
Body Corporate	Non Body Corporate	Services provided by way of renting of any motor vehicle designed to carry passengers where the cost of fuel is not included in the consideration	No	NA	No

[caption id="attachment_85901" align="aligncenter" width="110"] CA Pratibha Goyal[/caption] This article has been shared by CA Pratibha Goyal. She runs a youtube channel in name of Studycafe and has a telegram channel as well. Tags : GST, GST Council Meeting Updates, GST Notification