The 49th meeting of the GST Council was held today, chaired by Union Finance Minister Nirmala Sitaraman at Vigyan Bhawan, New Delhi. The Key Highlights from the Council Meeting includes decisions to amend and nullify some of the Goods and Services Tax Rates (GST Rates) as given below.
The GST Rate for Pencil Sharpeners has been reduced to 12% from 18%.
On a related matter, the Gujarat AAR had ruled that the Supply of sharpeners along with pencils is covered under the category of “mixed supply”.
GST Rates on Rab (Liquid Jaggery), has been slashed from 18% to 5% on pre-packaged and labeled Raab. If the same is sold otherwise, without packaging and label, the same shall attract no GST. It has also been decided to regularize payment of GST on ‘rab’ during the past period on “as is basis” on account of genuine doubts over its classification and applicable GST rate.
Further, it was decided to suitably amend notification No. 104/94-Customs dated 16.03.1994 so that if a device like tag- tracking device or data logger is already affixed on a container, no separate IGST shall be levied on such affixed device and the ‘nil’ IGST treatment available for the containers under notification No. 104/94-Customs shall also be available to the such affixed device subject to the existing conditions.
It has been decided to amend entry at Sl. No. 41A of notification No. 1/2017-Compensation Cess (Rate) so that exemption benefit covers both coal rejects supplied to and by a coal washery, arising out of coal on which compensation cess has been paid and no input tax credit thereof has been availed by any person.
It has been decided to extend the exemption available to educational institutions and Central and State educational boards for conduct of entrance examination to any authority, board or a body set up by the Central Government or State Government including National Testing Agency for conduct of entrance examination for admission to educational institutions.
It has been decided to extend the dispensation available to Central Government, State Governments, Parliament and State Legislatures with regard to payment of GST under reverse charge mechanism (RCM) to the Courts and Tribunals also in respect of taxable services supplied by them such as renting of premises to telecommunication companies for installation of towers, renting of chamber to lawyers etc.
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