GST Rates and limits changes
- Supply of goods and services to FIFA and other specified persons for U17 Women’s World Cup in India exempted from GST.
- Insurance provided to Central Armed Paramilitary Forces to be exempt from GST.
- Prospectively, warehousing of certain GSTagricultural products has been exempted from GST.
- Supply of silver, platinum from specified agencies to be exempt from GST
- Defence goods not being manufactured indigenously has been exempted from GST/IGST
- Exemption from GST/IGST is being given on import of specified defence goods not being manufactured indigenously, it’s being extended only up to 2024.
- Defence goods not being manufactured indigenously has been exempted from GST/IGST. However, the proposal was to increase GST rates on such beverages from 18 percent to 28 percent and impose an additional cess of 12 percent.
GST rate Changes
- Hotels with room tariff of Rs 1000 or less will attract nil GST. Those with Rs 1,000- Rs 7,500 will attract 12 percent GST. Hotels with a tariff of Rs 7,500 and above will be taxed at 18 percent.
- In a major boost to gems and jewellery sector, GST on cut and polished semi-precious items reduced to 0.25 percent from 3 percent.
- Uniform rate of 12 percent will be levied for woven and non-woven polyethylene bags
- GST rates cut down for outdoor catering to 5% from 18%
- Railway wagons, coaches, rolling stocks to be taxed at 12% instead of earlier 5%
- GST rate on slide fasteners has been reduced from 18% to 12%
- Marine fuel rate reduced from 18% to 5%
- 12% to 5% on wet grinders consisting of stone as a grinder
- 5% to nil on dried tamarind
- GST Council cuts tax rates on job work in the diamond industry to 1.5% from 5%
- Uniform GST rate of 12% to be levied on polypropylene bags and sacks used for the packing of goods
- Rates reduced for cups and plates made from leaves and hides to nil
- 18% GST shall be levied on almond milk
- GST rate hiked on railway wagon, coaches from 5% to 12%
- GST Council recommends lower 12% cess on 1,500 cc diesel, 1,200 cc petrol vehicles with the capacity to carry up to 13 people
- Caffeinated drinks will attract 28 percent with an additional cess of 12 percent
Composition Scheme Changes:
- Aerated drinks manufacturers no longer part of composition scheme
Note: All rate changes would be effective from 1 October 2019