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2019 Revised GST Rates

April 12th, 2019 in GST

2019 Revised GST Rates

GST Rates and HSN codes were revised in 31st GST Council Meeting which was held on 22 December 2018. As per the recommendation of GST Council, GST Rates of 23 Goods and 3 Services have been revised.

 

Revised GST Rates

So, here is the summarized view of Revised GST Rates for goods and services:

S.No.

List of Goods and Services

Old GST Rate

Revised GST Rate

1

Preserved Vegetables (i.e., not suitable for instant consumption)

0.05

Nil

2

Steamed, frozen or boiled vegetables either cooked or uncooked (branded)

0.05

Nil

3

Music Books

0.12

Nil

4

Renewable energy device parts falling under GST Tariff chapter 84, 85 or 94

0.05

0.05

5

Fly ash blocks

0.12

0.05

6

Natural Cork

0.12

0.05

7

Walking sticks

0.12

0.05

8

Marble rubble

0.18

0.05

9

Agglomerated Cork

0.18

0.12

10

Roughly squared/debugged Cork

0.18

0.12

11

Natural cork  Articles

0.18

0.12

12

Movie Tickets i.e., less than or equal to 100 INR

0.18

0.12

13

Third party  vehicles insurance premium

0.18

0.12

14

Handicapped Mobility Vehicles  Accessories

0.28

0.05

15

Power banks

0.28

0.18

16

Movie Tickets that are more than 100 INR

0.28

0.18

17

Sport-related items falling under HSN code 9504

0.28

0.18

18

Pulleys, transmission shafts, cranks and gearboxes under HSN 8483

0.28

0.18

19

32 Inches Color TV and Monitors

0.28

0.18

20

Used and Retreated Rubber Tyres

0.28

0.18

21

Digital & Video Camera

0.28

0.18

22

Air Fare for religious pilgrimage

0.28

0.18

*For travel for religious pilgrimage either by non-scheduled or chartered operations facilitated by Government of India under bilateral agreements.

Others

  • 5% GST Rate on composite supply for the solar plant will be applicable on 70% of the value as it will be considered as a supply of goods. And the remaining 30% value nominal GST Rate will be applicable as it deemed as a supply of service.
  • On footwear, GST Rate of 5% or 18% will be applicable depending upon the value of a transaction.
  • On FIBC (Flexible Intermediate Bulk Container) 12% GST rate will be applicable.

Goods Recommended for Exemption

Here is the list of goods that are recommended for exemption:

  • Gold supplied by Nominated Agencies to gold Jewellery articles exporters
  • The proceeds used for a public or charitable cause that is received by Government from an auction of gifts received by President, Prime Minister, CM or Governor of a State and Government servant.
  • Import of vehicle for temporary purposes covered under the Customs Convention on the Temporary Importation of Private Road Vehicles

Services Recommended for Exemption

The services that are recommended for exemption are recommended below:

  • Banks services to BSBD (Basic Saving Bank Deposit) account holders covered under Pradhan Mantri Jan Dhan Yojana (PMJDY)
  • Services rendered by rehabilitation professionals recognized under the Rehabilitation Council of India Act, 1992. Moreover, this can take place at hospitals, schools or rehabilitation centres that are recognized by the Government. In addition, this will apply on the Section 12AA charitable institute registered under the Income-tax Act 1961.
  • Government loan guarantee services provided to its undertakings and PSUs for bank loans.

 

 

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