47th GST Council Meeting : Rate Rationalisation to remove Inverted duty structure
47th GST Council meeting chaired by Hon’ble Union Minister of Finance Nirmala Sitaraman has concluded today in Chandigarh which was attended by Union Minister of State for Finance Shri Pankaj Chaudhary besides Revenue Secretary Shri. Tarun Bajaj, Chairman of the CBIC Shri. Vivek Johri, Member of the CBIC Shri. D P Nagendra Kumar, Sandeep Kumar and Sanjay Agarwal and other senior officers from the Finance Ministry and the CBIC with Finance Ministers of States & UTs and Senior officers from Union Government & States.
As per Press release, The GST Council has made the following recommendations relating to GST rate changes recommended by the Council:
|
S. No. |
Description |
From |
To |
|
Goods |
|||
|
1. |
Ostomy Appliances |
12% |
5% |
|
2. |
Orthopedic appliance- Splints and other fracture appliances; artificial parts of the body; other appliances which are worn or carried, or implanted in the body, to compensate for a defect or disability; intraocular lens |
12% |
5% |
|
3. |
Tetra Pak (Aseptic Packaging Paper) |
12% |
18% |
|
4. |
Tar (whether from coal, coal gasification plants, producer Gas plants and Coke Oven Plants. |
5%/18% |
18% |
|
5. |
IGST on import of Diethylcarbamazine (DEC) tablets supplied free of cost for National Filariasis Elimination Programme |
5% |
Nil |
|
6. |
Cut and Polished diamonds |
0.25% |
1.5% |
|
7. |
IGST on specified defence items imported by private entities/vendors, when end-user is the Defence forces. |
Applicable rate |
Nil |
|
Services |
|||
|
S. No. |
Description |
From |
To |
|
1. |
Transport of goods and passengers by ropeways. |
18% |
5% (with ITC of services) |
|
2 |
Renting of truck/goods carriage where cost of fuel is included |
18% |
12% |
The rate changes recommended by the 47th GST Council will be made effective from 18th July, 2022.
