The 53rd GST Council meeting chaired by Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman in New Delhi on June 22, 2024, made the following recommendations to clarify GST rates:
- 1. Uniform 5% IGST rate for aircraft parts, components, testing equipment, tools and tool-kits to boost MRO activities.
- 2. 12% GST on all milk cans (steel, iron, and aluminium).
- 3. Reduced GST rate from 18% to 12% on carton, boxes, and cases of paper or paper-board.
- 4. 12% GST on all types of solar cookers.
- 5. Amendment to include “parts of Poultry keeping Machinery” under 12% GST.
- 6. Clarification that all types of sprinklers, including fire water sprinklers, will attract 12% GST.
- 7. Extension of IGST exemption on specified items for defence forces till June 30, 2029.
- 8. Extension of IGST exemption on imports of research equipment/buoys under the RAMA programme with specified conditions.
- 9. Exemption of Compensation Cess on imports in SEZ by SEZ Unit/developers for authorised operations from 01.
Source A2ztaxcorp
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