{"id":8321,"date":"2019-12-19T05:52:52","date_gmt":"2019-12-19T00:22:52","guid":{"rendered":"http:\/\/udaen.info\/?p=8321"},"modified":"2019-12-19T05:52:52","modified_gmt":"2019-12-19T00:22:52","slug":"gst-councils-decisions-on-rate-changes","status":"publish","type":"post","link":"https:\/\/udaen.info\/?p=8321","title":{"rendered":"GST Council\u2019s decisions On Rate Changes"},"content":{"rendered":"
GST Council\u2019s decisions On Rate Changes<\/p>\n<\/div>\n
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The 38th<\/sup>\u00a0meeting of the GST Council met under the Chairmanship of the Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman here today. The meeting was also attended by the Union Minister of State for Finance & Corporate Affairs Shri Anurag Thakur\u00a0 besides Finance Ministers of States & UTs and senior officers of Ministry of Finance.\u00a0 The GSTCouncil recommended the following\u00a0relating to changes in GST rates, exemptions.<\/p>\n

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  1. To exempt upfront amount payable for long term lease of industrial\/ financial infrastructure plots by an entity having 20% or more ownership of Central or State Government. Presently, the exemption is available to an entity having 50% or more ownership of Central or State Government. This change shall become effective from 1st<\/sup>\u00a0January, 2020.<\/li>\n<\/ol>\n

     <\/p>\n

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    1. To levy a single rate of GST @ 28% on both State run and State authorized lottery. This change shall become effective from 1st<\/sup>\u00a0March, 2020.<\/li>\n<\/ol>\n

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      1. The Council also considered the rate of GST rate on Woven and Non-Woven Bags and sacks \u00a0of polyethylene or polypropylene strips or the like , whether or not laminated, of a kind used for packing of goods ( HS code 3923\/6305)in view of the requests received post the changes recommended on such goods in last meeting and recommended to raise the GST to a uniform rate of 18%(from 12%) on all such bags falling under HS 3923\/6305 including Flexible Intermediate Bulk Containers (FIBC). This change shall become effective from 1st<\/sup>\u00a0January, 2020.<\/li>\n<\/ol>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

        GST Council\u2019s decisions On Rate Changes The 38th\u00a0meeting of the GST Council met under the Chairmanship of the Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman here today. The meeting was also attended by the Union Minister of State for Finance & Corporate Affairs Shri Anurag Thakur\u00a0 besides Finance Ministers of States & […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_exactmetrics_skip_tracking":false,"_monsterinsights_skip_tracking":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-8321","post","type-post","status-publish","format-standard","hentry","category-information"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t