The Central Board of Excise and Customs (CBEC) has notified Concessional Goods and Services Tax (GST) rate of 2.5% on Scientific and Technical Equipments supplied to Public Funded Research Institutions.
Concessional GST rate on specified goods, such as scientific or technical instruments, software, prototype supplied to public funded research institution other than a hospital or a University or an Indian Institute of Technology or Indian Institute of Science, Bangalore or a National Institute Technology/ Regional Engineering College, Research institution, other than a hospital, Departments and laboratories of the Central Government and State Governments other than a hospital and Regional Cancer Centre.
The notification shall came into effect from today.
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