• Notification Date: 22-12-2022
• Notification No: N/A

GST Council Recommends Changes in GST Rates for Some Services & Goods

Minister of Finance and Corporate Affairs, Nirmala Sitharaman, has made some recommendations while presiding over the 48th GST Council Meeting. Changes have been made in GST Rates on the supply of goods and services accordingly. 

The GST Council has exempted the husk of pulses including chilka and concentrates, churi, chuni and khanda. Previously, 5% GST was charged on husks of pulses. The interim period has also been beginning from the date when the circular was issued which is August 8, 2022. The circular was related to GST applicable on the husk of pulses, chilka and concentrates, churi, chuni and khanda on an as-is basis. 

The GST rate has also been reduced on ethyl alcohol supplied to refineries for the purpose of blending with petrol. The rate of GST has been minimised to 5% from the former 18%. As per the new notification, no GST would be payable if a residential building is rented out to a registered person if it is used by that person in their personal capacity as their residence on their personal account, not on a business account. 

The Council has provided incentives to banks in order to promote the RuPay debit cards. From now on, low-value transactions made through BHIM-UPI are in the nature of subsidies and will not be taxable. It has been clarified that fryums manufactured using the extrusion process would specifically be covered under CTH 19059030 and 18% GST would be applicable to it.  

The goods falling in the category of 5% as per Schedule 1 of Notification 1/2017 CTR imported for petroleum operations will now attract a lower rate of 5% and a rate of 12% would only be applicable if the general rate is more than 12%.