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Renting of any Commercial/ Immovable Property (other than residential dwelling) excluded from the levy of GST under RCM for Composition Taxpayers

By Author / January 17, 2025 / 55th GST Council Meeting, GST Rate Notification

Background: The 55th GST Council Meeting held on December 21, 2024, recommended to exclude taxpayers registered under composition levy scheme […]

55th GST Council Meeting, GST Rate Notification

Tax leviable under forward charge mechanism on sponsorship services provided by the body corporates

By Author / January 17, 2025 / 55th GST Council Meeting, GST Rate Notification

Background: The 55th GST Council Meeting held on December 21, 2024, recommended to bring supply of the sponsorship services provided

55th GST Council Meeting, GST Rate Notification

CBIC increases the GST rate from 12% to 18 % on sale of all old and used vehicles, including EVs other than SUVs

By Author / January 17, 2025 / 55th GST Council Meeting, GST Rate Notification

Background: The GST Council in its 55th meeting held on December 21, 2024, recommended several significant decisions aimed at tax

55th GST Council Meeting, GST Rate Notification

CBIC reduces the Compensation Cess rate to 0.1% on supplies to merchant exporters, at par with GST rate for such supplies, subject to specified conditions

By Author / January 17, 2025 / 55th GST Council Meeting, GST Rate Notification

Background: The GST Council in its 55th meeting held on December 21, 2024, recommended several significant decisions aimed at tax

55th GST Council Meeting, Customs Notification - 2025

CBIC exempts IGST on imports of all equipments and consumable samples by inspection team of International Atomic Energy Agency (IAEA), subject to specified conditions

By Author / January 17, 2025 / 55th GST Council Meeting, Customs Notification - 2025

Background: The GST Council in its 55th meeting held on December 21, 2024, recommended several significant decisions aimed at tax

55th GST Council Meeting, GST Rate Notification

CBIC amends Goods Rate Notification for Fortified Rice Kernel Supplies (Premix)

By Author / January 17, 2025 / 55th GST Council Meeting, GST Rate Notification

The CBIC issued Notification No. 03/2025-Central Tax (Rate) dated January 16, 2025, to amend the Central Goods and Services Tax Act,

55th GST Council Meeting, Customs Notification - 2025

CBIC extends IGST Exemption for Long Range Surface to Air Missile System (LRSAM) Components Under Notification No. 19/2019-Customs

By Author / January 17, 2025 / 55th GST Council Meeting, Customs Notification - 2025

Background: The GST Council in its 55th meeting held on December 21, 2024, recommended several significant decisions aimed at tax

55th GST Council Meeting, GST Rate Notification

CBIC exempts Gene Therapy from GST and amended the definition of ‘Pre-packed and labelled’

By Author / January 17, 2025 / 55th GST Council Meeting, GST Rate Notification

Background: The GST Council in its 55th meeting held on December 21, 2024, recommended several significant decisions aimed at tax

55th GST Council Meeting, GST Rate Notification

CBIC exempts GST on contributions made by insurers to the motor vehicle accident fund out of the premiums collected for third party insurance of motor vehicles

By Author / January 17, 2025 / 55th GST Council Meeting, GST Rate Notification

Background: The 55th GST Council Meeting held on December 21, 2024, recommended exemption from GST on the contributions made

55th GST Council Meeting, GST Rate Notification

CBIC reduced the rate on Fortified Rice Kernel (FRK) to 5% (2.5% CGST and 2.5% SGST)

By Author / January 17, 2025 / 55th GST Council Meeting, GST Rate Notification

Background: The GST Council in its 55th meeting held on December 21, 2024, recommended several significant decisions aimed at tax

Author name: Author

Renting of any Commercial/ Immovable Property (other than residential dwelling) excluded from the levy of GST under RCM for Composition Taxpayers

Tax leviable under forward charge mechanism on sponsorship services provided by the body corporates

CBIC increases the GST rate from 12% to 18 % on sale of all old and used vehicles, including EVs other than SUVs

CBIC reduces the Compensation Cess rate to 0.1% on supplies to merchant exporters, at par with GST rate for such supplies, subject to specified conditions

CBIC exempts IGST on imports of all equipments and consumable samples by inspection team of International Atomic Energy Agency (IAEA), subject to specified conditions

CBIC amends Goods Rate Notification for Fortified Rice Kernel Supplies (Premix)

CBIC extends IGST Exemption for Long Range Surface to Air Missile System (LRSAM) Components Under Notification No. 19/2019-Customs

CBIC exempts Gene Therapy from GST and amended the definition of ‘Pre-packed and labelled’

CBIC exempts GST on contributions made by insurers to the motor vehicle accident fund out of the premiums collected for third party insurance of motor vehicles

CBIC reduced the rate on Fortified Rice Kernel (FRK) to 5% (2.5% CGST and 2.5% SGST)

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