GST Rates Slashed from 18% to 5% on Scientific & Technical Instruments & Domestic LPG
The 25th GST Council meeting was held at New
Delhi on 18.01.2018. The said meeting was chaired by Shri Arun Jetley,
the Hon’ble Finance Minister. The decisions relating to-
Delhi on 18.01.2018. The said meeting was chaired by Shri Arun Jetley,
the Hon’ble Finance Minister. The decisions relating to-
·
exemptions;
exemptions;
·
changes in GST rates;
changes in GST rates;
·
ITC eligibility criteria;
ITC eligibility criteria;
·
Rationalization of rates;
Rationalization of rates;
were taken by the Council in the said
meeting. However the said decisions will be given effect to through Gazette Notifications/circulars which shall have
the force of law.
meeting. However the said decisions will be given effect to through Gazette Notifications/circulars which shall have
the force of law.
From 18% to 5%
The GST Council recommended the
reduction of GST rate from 18% to 5% to the following goods-
reduction of GST rate from 18% to 5% to the following goods-
- Tamarind
Kernel Powder - Mehendi
paste in cones - LPG
supplied for supply to household domestic consumers by private LPG
distributors - Scientific
and technical instruments, apparatus, equipment, accessories, parts,
components, spares, tools, mock ups and modules, raw material and
consumables required for launch vehicles and satellites and payloads.
The GST Council recommended the
reduction of IGST rate from 18% to 5% to the following goods-
reduction of IGST rate from 18% to 5% to the following goods-
- Satellites
and payloads and scientific and technical instruments, apparatus,
equipment, accessories, parts, components, spares, tools, mock ups and
modules, raw material and consumables required for launch vehicles and
satellites and payloads.
