{"id":1108,"date":"2022-07-12T07:08:11","date_gmt":"2022-07-12T07:08:11","guid":{"rendered":"http:\/\/www.rnm.in\/blog\/?p=1108"},"modified":"2025-01-30T10:55:42","modified_gmt":"2025-01-30T10:55:42","slug":"indirect-tax-alert-june-2022","status":"publish","type":"post","link":"https:\/\/www.rnm.in\/blog\/indirect-tax-alert-june-2022\/","title":{"rendered":"INDIRECT TAX ALERT-JUNE 2022"},"content":{"rendered":"\n

GST\nCalendar \u2013Compliances for the month of June\u20192022<\/strong><\/p>\n\n\n\n

\n Nature of Compliances<\/strong>\n <\/td>\n Due Date<\/strong>\n <\/td><\/tr>
\n GSTR-7 (Tax Deducted at Source \u2018TDS\u2019) <\/strong>\n <\/td>\n July 10,2022\n <\/td><\/tr>
\n GSTR-8\n (Tax Collected at Source \u2018TCS\u2019) \n <\/td>\n July\n 10,2022\n <\/td><\/tr>
\n GSTR-1 \n <\/td>\n July 11,2022\n <\/td><\/tr>
\n IFF-\n Invoice furnishing facility (Availing QRMP)\n <\/td>\n July\n 13,2022\n <\/td><\/tr>
\n GSTR-6 Input Service Distributor\n <\/td>\n July 13,2022\n <\/td><\/tr>
\n GSTR-2B\n (Auto Generated Statement)\n <\/td>\n July\n 14,2022\n <\/td><\/tr>
\n GSTR-3B \n <\/td>\n July 20,2022\n <\/td><\/tr>
\n GSTR-5\n (Non-Resident Taxable Person)\n <\/td>\n July\n 20,2022\n <\/td><\/tr>
\n GSTR-5A (OIDAR Service Provider)\n <\/td>\n July 20,2022\n <\/td><\/tr>
\n PMT-06\n (who have opted for QRMP scheme)\n <\/td>\n July\n 25,2022\n <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

47th GST Council Meet Recommendations<\/strong><\/p>\n\n\n\n

Goods -Clarification on GST rate w.e.f.\nJuly 18,<\/strong><\/p>\n\n\n\n

    \n
  • Electric Vehicles: <\/strong>EV\u2019s whether\nor not fitted with a battery pack, are eligible for the concessional GST rate\nof 5%.<\/li>\n\n\n\n
  • Fly Ash Bricks:<\/strong> All fly ash\nbricks attract same concessional rate irrespective of fly ash content. Further,\nthe condition of 90% fly ash content with respect to fly ash bricks applies\nonly to fly ash aggregate, and not fly ash bricks. As a simplification measure,\nthe condition of 90% content is being omitted.<\/li>\n\n\n\n
  • Stones covered in S. No.123 of Schedule-I (such as Napa stones): <\/strong>Such stones even if they are ready to use and polished in minor\nways [not mirror polished], attract concessional GST rate of 5%.<\/li>\n\n\n\n
  • Mango:<\/strong> The GST rate\non all forms of mango under CTH 0804, including mango pulp (other than mangoes\nsliced, dried) attract GST at the 12%. Entry is also being amended to make this\namply clear. Raw or fresh mangoes continue to be exempt.<\/li>\n\n\n\n
  • Sewage treated water: <\/strong>It\nis exempted from GST and is not the same as purified water provided in S. No.\n99 of notification 2\/2017-CT (Rate). The word ‘purified’ is being omitted to\nmake this amply clear.<\/li>\n\n\n\n
  • Nicotine PolarilexGum:<\/strong>\nIt shall attracts a GST rate of 18%.<\/li>\n<\/ul>\n\n\n\n

    Services -Clarification on GST rate\nw.e.f. July 18, 2022<\/strong><\/p>\n\n\n\n

      \n
    • Preferential\nLocation Charges for long term lease of plot: <\/strong>It has been clarified that allowing choice of\nlocation of a plot is part of supply of long term lease of plot of land.\nTherefore, location charge or preferential location charges (PLC) are part of\nconsideration charged for long term lease of land and shall get the same\ntreatment under GST. It may be said that in terms of the saidclarification,\npreferential location charges shall form as part of composite supply with long\nterm lease of land.<\/li>\n\n\n\n
    • Developed Plots:\n<\/strong>It has been clarified that the sale of\nland after leveling, laying down of drainage lines etc. is sale of land and\ndoes not attract GST.<\/li>\n\n\n\n
    • Supply of\nice-cream by ice-cream parlours: <\/strong>GST shall be charged @ 5% without ITC has been regularized in terms of\nindustry practice.<\/li>\n\n\n\n
    • Application\nfee for entrance \/ issuance of eligibility certificate for admission \/ issuance\nof migration certificate by universities<\/strong>: Such fee shall be exempt from GST.<\/li>\n\n\n\n
    • GST on\ncasinos, race course and online gaming: <\/strong>The Council has directed the Group of Ministers to\nre-examine on Casino, Race Course and Online Gaming the issues in its terms of\ninputs from States and submit its report within a short duration.<\/li>\n\n\n\n
    • Ginned or baled fibre: <\/strong>It\nis covered in entry 24B of notification No. 12\/2017-Central Tax (Rate) dated\n28.06.2017 in the category of raw vegetable fibers. The exemption under this\nentry is being rationalized.<\/li>\n\n\n\n
    • Additional\nfee collected in the form of higher toll charges from vehicles not having\nFastag:<\/strong> It has been clarified that such payments are essentially payment\nof toll for allowing access to roads or bridges to such vehicles and shall be\ngiven the same tax treatment as given to toll charges.<\/li>\n\n\n\n
    • Services associated with transit cargo both to and from Nepal and\nBhutan: <\/strong>It shall be exempted and is covered under Entry 9B of Notification\nNo. 12\/2017-CT(R) dated 28.06.2017.<\/li>\n\n\n\n
    • Activity of selling of space for advertisement in souvenirs: <\/strong>Activity of selling of space for advertisement in souvenirs\npublished in the form of books is eligible for concessional GST at 5%.<\/li>\n\n\n\n
    • Renting of vehicle with operator for transportation of goods on time\nbasis: <\/strong>Such activity shall be classifiable under Heading 9966 (rental\nservices of transport vehicles with operators) and attracts GST at 18%.\nFurther, GST on such renting where cost of fuel is included in the\nconsideration charged is being prescribed at 12%.<\/li>\n\n\n\n
    • Services provided by the guest anchors to TV channels: <\/strong>Such services in lieu of honorarium to attract GST.<\/li>\n\n\n\n
    • Renting of motor vehicles for transport of passengers to a body\ncorporate for a period (time) : <\/strong>It shall be\ntaxable in the hands of body corporate under RCM.<\/li>\n\n\n\n
    • Services\ninform of Assisted Reproductive Technology (ART)\/Invitrofertilization (IVF): <\/strong>These are covered under the definition of health care services for\nthe purpose of exemption under GST.<\/li>\n\n\n\n
    • Goods transport\nagency (GTA)<\/strong> is being given option to pay GST at\n5% or 12% under forward charge; option to be exercised at the beginning of Financial\nYear. RCM option to continue.<\/li>\n\n\n\n
    • Service provided\nby Indian Tour operator to a foreign resident for a tour partially in India and\npartially outside India<\/strong>: Taxable in proportion\nto the tour conducted in India for such foreign tourist subject to conditions that\nthis concession does not exceed half of tour duration.<\/li>\n<\/ul>\n\n\n\n

      Other Measure\u2019s & Clarifications:<\/strong><\/p>\n\n\n\n

        \n
      • E-Commerce Operators (ECOs): <\/strong>Mandatory requirement of registration under\nsection 24 (ix) of CGST Act for a person supplying goods through ECOs has been done\naway with, subject to below conditions:<\/li>\n<\/ul>\n\n\n\n
          \n
        1. the aggregate\nturnover on all India basis does not exceed the turnover specified undersub-section\n(1) of section 22 of the CGST Act and notifications issued there under;<\/li>\n\n\n\n
        2. the person\nis not making any inter-State tax able supply.<\/li>\n\n\n\n
        3. Composition\ntax payers to be allowed to make intra-State supply through e-commerce operators\nsubject to certain conditions: <\/strong>GST Council has recommended to allow intra-state\nsupplies by Composite supplier\u2019s selling through ECO. The details of the scheme\nwill be worked out by the Law Committee of the Council. The scheme would be tentatively\nimplemented with effect from 01.01.2023, subject to preparedness on the portal as\nwell as by ECOs.<\/li>\n\n\n\n
        4. Specified\nofficer\u2019 under Rule89 (1):<\/strong> GST Council has recommended insertion of an explanation\nto Rule89(1) Rules to clarify that \u201cspecified officer\u201d under the said sub-rule shall\nmean the \u2018specified officer\u2019 or \u2018authorized officer\u2019 ,as defined under SEZ Rules,\n2006 which provides that \u2018Specified officer\u2019 shall mean an Inspector or Preventive\nofficer, or Appraiser or Superintendent of Customs posted in the Special Economic\nZone and authorized by the Specified Officer to discharge any of his functions under\nSEZ Rules,2006.<\/li>\n<\/ol>\n\n\n\n
            \n
          • Inverted\nDuty Structure<\/strong>: GST Council has recommended for amendment in formula prescribed in\nsub-rule (5) of rule 89 of CGST Rules, 2017 for calculation of refund of\nunutilized Input Tax Credit on account of inverted rated structure. The said\nchange in formula for calculation of refund under rule89 (5) to take in to\naccount utilization of ITC on account of inputs and input services for payment\nof output tax on inverted rated supplies in the same ratio in which ITC has\nbeen availed on inputs and input services during the said tax period. This\nwould help those tax payers who are availing ITC on input services also.<\/strong><\/li>\n\n\n\n
          • Risky\nExporters:<\/strong> Amendment in CGST Rules for handling of pending IGST refund claims. In\nsome cases where the exporter is identified as risky exporter requiring\nverification by GST officers, or where there is a violation of provisions of\nCustoms Act, there fund claims in respect of export of goods are suspended \/\nwithheld. Amendment in rule 96 of the CGST Rules has been recommended to\nprovide for transmission of such IGST refund claims on the portal in a system\ngenerated FORM GSTR FD-01 to the jurisdictional GST authorities for processing.\nThis would result in expeditious disposal of such IGST refund claims, after\ndue verification by GST officers, thus benefitting such exporters.<\/strong><\/li>\n<\/ul>\n\n\n\n
              \n
            • Re-credit\nof amount in Electronic Credit Ledger:<\/strong> Where refund amount has\nbeen sanctioned erroneous to a tax payer on account of accumulated ITC or on\naccount of IGST paid on zero rated supply of goods or services, in\ncontravention of rule96 (10) of the CGST Rules, is deposited by him along with\ninterest and penalty, wherever applicable. A new FORM GST PMT-03 A is\nintroduced for the same. This will enable the tax payers to get re-credit of\nthe amount of erroneous refund, paid back by them, in their electronic credit\nledger.<\/li>\n\n\n\n
            • GST council has recommended the same to be notified by\nthe Central Government at the earliest:<\/li>\n\n\n\n
            • Calculation of interest on ITC availed and utilized:\nAn amendment was made to Section 50 (3) of the CGST Act, 2017 to provide for levy\nof interest on\u2018 ineligible ITC availed and utilized\u2019 retrospectively i.e., from\nJuly 1,2017;<\/li>\n\n\n\n
            • Facility to transfer balance in Electronic Cash Ledgers\nof distinct persons: Section 49 (10) provides the facility to transfer balance in\nelectronic cash ledger of registered person to electronic cash ledger of CGST and\nIGST of a distinct person.<\/li>\n\n\n\n
            • Present exemption of IGST on import of good sunder AA \/ EPCG \/\nEOU scheme: <\/strong>It\nhas been proposed that the present exemption of IGST on import of good sunder AA\n\/ EPCG \/ EOU scheme to be continued and the proposed E-wallet scheme not to be pursued\nfurther.<\/li>\n\n\n\n
            • GSTR-9\/GSTR-9C: <\/strong>Exemption from filing annual return in FORM GSTR- 9\/ 9A\nfor FY 2021-22 to be provided to tax payer shaving AATO up to Rs.2crores.<\/li>\n\n\n\n
            • ITC Reversal in case of sale of Duty Credit Scrips by Exporters:\n<\/strong>Explanation\n1 after rule 43 of CGST Rules to be amended to provide that there is no requirement\nof reversal of input tax credit for exempted supply of Duty Credit Scrips by the\nexporters.<\/li>\n\n\n\n
            • Mode of GST payment<\/strong>: UPI & IMPS to be provided as an\nadditional mode for payment of GST for tax payers.<\/li>\n\n\n\n
            • Export of Electricity<\/strong>: Amendment in CGST Rules to provide for\nrefund of unutilized Input Tax Credit on account of Export of Electricity. This\nwould facilitate the exporters of electricity in claiming refund of utilized ITC\non zero rated supplies.<\/li>\n\n\n\n
            • Supplies from Duty Free Shops (DFS) at international terminal\nto outgoing international passengers: <\/strong>Such supply to be treated as exports by\nDFS and consequential refund benefit to be available to them on such supplies. Rule\n95 A of the CGST Rules, Circular No. 106 \/ 25 \/ 2019 \u2013 GST dated 29.06.2019 and\nrelated notifications to be rescinded accordingly.<\/li>\n<\/ul>\n\n\n\n
                \n
              • Automatic\nRevocation of suspension of Registration<\/strong>: Where GST registration has been suspended by the\nsystem under Rule 21 A (2A) of CGST Rules, for continuous non-filing of\nspecified number of returns, the systems hall file automatic revocation\napplication once all the pending returns are filed on the portal by the tax\npayer.<\/li>\n\n\n\n
              • Changes\nin GSTR-3B<\/strong>: Proposal for comprehensive\nchanges in FORM GSTR-3B to be placed in public domain for seeking inputs \/ suggestions\nof the stake holders.<\/li>\n\n\n\n
              • Clarification\nfor limitation period for refund claims: <\/strong>Time period from March 1, 2020 to February 28, 2022 to\nbe excluded from calculation of the limitation period for filing refund claim by\nan applicant under section 54 and 55 of CGST Act, as well as for issuance of demand\n\/ order (by proper officer) in respect of erroneous refunds under section 73 of\nCGST Act. Further, limitation under section 73 for FY 2017-18 for issuance of order\nin respect of other demands linked with due date of annual return, to be extended\ntill 30th September,2023.<\/li>\n<\/ul>\n\n\n\n

                GST Council has recommended for issuance\nof clarifications in relation to :<\/strong><\/p>\n\n\n\n

                  \n
                1. Clarification\non issue of claiming refund under inverted duty structure where the supplier is\nsupplying goods under some concessional notification.<\/li>\n\n\n\n
                2. Clarification\non various issues relating to applicability of demand and penalty provisions\nunder the CGST Act in respect of transactions involving fake invoices.<\/li>\n\n\n\n
                3. Clarification\non mandatory furnishing of correct and proper information of inter-State\nsupplies and amount of ineligible \/ blocked Input Tax Credit and reversal\nthereof in return in FOR MGSTR-3B.<\/li>\n\n\n\n
                4. Clarification\nin respect of certain GST related issues:<\/li>\n<\/ol>\n\n\n\n
                    \n
                  1. Clarification\non the issues pertaining to refund claimed by the recipients of supplies\nregarded as deemed export;<\/li>\n\n\n\n
                  2. Clarification\non various issues relating to interpretation of section 17 (5) of the CGST Act;<\/li>\n\n\n\n
                  3. Clarification\non the issue of perquisites provided by employer to the employees as per\ncontractual agreement<\/li>\n\n\n\n
                  4. Clarification\non utilization of the amounts available in the electronic credit ledger and the\nelectronic cash ledger for payment of tax and other liabilities.<\/li>\n<\/ol>\n\n\n\n
                      \n
                    • GST\nCouncil has decided to constitute a Group of Ministers (GoM) to address various\nconcerns raised by the States in relation to constitution of GST Appellate Tribunal\nand make recommendations for appropriate amendments in CGST Act. Further, the Go\nMon ITR eforms, inter alia, recommended that the GSTN should put in place the AI\/ML\nbased mechanism to verify the antecedents of the registration applicants and an\nimproved risk-based monitoring of their behavior post registration so that non-compliant\ntax payers could be identified in their infancy and appropriate action be taken\nso as to minimize risk to exchequer.<\/li>\n<\/ul>\n\n\n\n

                      Goods: Rationalization of GST Rates (for\nremoval of Inverted Duty Structure) w.e.f. July 18, 2022<\/strong><\/p>\n\n\n\n

                      \n S. No<\/strong>\n <\/td>\n Description of goods<\/strong>\n <\/td>\n From<\/strong>\n <\/td>\n To<\/strong>\n <\/td><\/tr>
                      \n 1.\n <\/td>\n Printing, writing or drawing ink\n <\/td> 2% <\/td> 8% <\/td><\/tr>
                      \n 2.\n <\/td>\n Knives with cutting blades, Paper knives,\n Pencil sharpeners and blades therefor, Spoons, forks, ladles, skimmers, cake-servers\n etc\n <\/td> 2% <\/td> 8% <\/td><\/tr>
                      \n 3.\n <\/td>\n Power driven pumps primarily designed for\n handling water such as centrifugal pumps, deep tube-well turbine pumps,\n submersible pumps; Bicycle pumps\n <\/td> 2% <\/td> 8% <\/td><\/tr>
                      \n 4.\n <\/td>\n Machines for cleaning, sorting or grading,\n seed, grain pulses; Machinery used in milling industry or for the working of\n cereals etc; PawanChakkithat is Air Based Atta Chakki; Wet grinder;\n <\/td>\n 5%\n <\/td> 8% <\/td><\/tr>
                      \n 5.\n <\/td>\n Machines for cleaning, sorting or grading\n eggs, fruit or other agricultural produce and its parts, Milking machines and\n dairy machinery\n <\/td> 2% <\/td> 8% <\/td><\/tr>
                      \n 6.\n <\/td>\n LED Lamps, lights and fixture, their metal\n printed circuits board; \n <\/td> 2% <\/td> 8% <\/td><\/tr>
                      \n 3.\n <\/td>\n Power driven pumps primarily designed for\n handling water such as centrifugal pumps, deep tube-well turbine pumps, submersible\n pumps; Bicycle pumps\n <\/td> 2% <\/td> 8% <\/td><\/tr>
                      \n 4.\n <\/td>\n Machines for cleaning, sorting or grading,\n seed, grain pulses; Machinery used in milling industry or for the working of\n cereals etc; Pawan Chakki that is Air Based Atta Chakki; Wet grinder;\n <\/td>\n 5%\n <\/td> 8% <\/td><\/tr>
                      \n 5.\n <\/td>\n Machines for cleaning, sorting or grading\n eggs, fruit or other agricultural produce and its parts, Milking machines and\n dairy machinery\n <\/td> 2% <\/td> 8% <\/td><\/tr>
                      \n 6.\n <\/td>\n LED Lamps, lights and fixture, their metal\n printed circuits board; \n <\/td> 2% <\/td> 8% <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

                      Goods: Rationalization of GST Rates\n\u2013(Others) w.e.f. July 18, 2022<\/strong><\/p>\n\n\n\n

                      \n S.No.<\/strong>\n <\/td>\n Description<\/strong>\n <\/td>\n From<\/strong>\n <\/td>\n To<\/strong>\n <\/td><\/tr>
                      \n 1.\n <\/td>\n Ostomy Appliances \n <\/td>\n 12%\n <\/td>\n 5%\n <\/td><\/tr>
                      \n 2.\n <\/td>\n Orthopedic\n appliance-Splints and other fracture appliances; artificial parts of the\n body; other appliances which are worn or carried, or implanted in the body,\n to compensate for a defect or disability; intraocular lens \n <\/td>\n 12%\n <\/td>\n 5%\n <\/td><\/tr>
                      \n 3.\n <\/td>\n Tetra Pak (Aseptic\n Packaging Paper)\n <\/td>\n 12%\n <\/td>\n 18%\n <\/td><\/tr>
                      \n 4.\n <\/td>\n Tar (whether from\n coal, coal gasification plants, producer Gas plants and Coke Oven Plants.\n <\/td> 5%\/8% <\/td>\n 18%\n <\/td><\/tr>
                      \n 5.\n <\/td>\n IGST on import of\n Diethylcarbamazine(DEC) tablets supplied free of cost for National FilariasisElimination\n Programme\n <\/td>\n 5%\n <\/td>\n NIL\n <\/td><\/tr>
                      \n 6.\n <\/td>\n Cut and Polished\n diamonds\n <\/td>\n 0.25%\n <\/td>\n 1.5%\n <\/td><\/tr>
                      \n 7.\n <\/td>\n IGST on specified\n defenceitems imported by private entities\/vendors, when end-user is the\n Defenceforces.\n <\/td>\n Applicable Rate\n <\/td>\n NIL\n <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

                      Goods Rationalization of GST Rates\u2013(Exemptions)\nw.e.f. July 18, 2022<\/strong><\/p>\n\n\n\n

                      \n S.No.<\/strong>\n <\/td>\n Description<\/strong>\n <\/td>\n From<\/strong>\n <\/td>\n To<\/strong>\n <\/td><\/tr>
                      \n 1.\n <\/td>\n Cheques, lose or\n in book form\n <\/td>\n Nil\n <\/td>\n 18%\n <\/td><\/tr>
                      \n 2.\n <\/td>\n Maps and\n hydrographic or similar charts of all kinds, including atlases, wall maps,\n topographical plans and globes, printed\n <\/td>\n Nil\n <\/td>\n 12%\n <\/td><\/tr>
                      \n 3.\n <\/td>\n Parts of goods of\n heading 8801\n <\/td>\n Nil\n <\/td>\n 18%\n <\/td><\/tr>
                      \n 4.\n <\/td>\n Petroleum\/ Coal\n bed methane\n <\/td>\n 5%\n <\/td>\n 12%\n <\/td><\/tr>
                      \n 5.\n <\/td>\n Scientific and\n technical instruments supplied to public funded research institutes\n <\/td>\n 5%\n <\/td>\n Applicable rate\n <\/td><\/tr>
                      \n 6.\n <\/td>\n E-waste\n <\/td>\n 5%\n <\/td>\n 18%\n <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

                      Services -Rationalization of GST Rates\n(for removal of Inverted Duty Structure) w.e.f. July 18, 2022<\/strong><\/p>\n\n\n\n

                      \n S.No.<\/strong>\n <\/td>\n Description of Services<\/strong>\n <\/td>\n From<\/strong>\n <\/td>\n To<\/strong>\n <\/td><\/tr>
                      \n 1.\n <\/td>\n Services supplied\n by foreman to chit fund\n <\/td>\n 12%\n <\/td>\n 18%\n <\/td><\/tr>
                      \n 2.\n <\/td>\n Job work in\n relation to processing of hides, skins and leather\n <\/td>\n 5%\n <\/td>\n 12%\n <\/td><\/tr>
                      \n 3.\n <\/td>\n Job work in\n relation to manufacture of leather goods and footwear\n <\/td>\n 5%\n <\/td>\n 12%\n <\/td><\/tr>
                      \n 4.\n <\/td>\n Job work in\n relation to manufacture of clay bricks\n <\/td>\n 5%\n <\/td>\n 12%\n <\/td><\/tr>
                      \n 5.\n <\/td>\n Works contract for\n roads, bridges, railways, metro, effluent treatment plant, crematorium etc.\n <\/td>\n 12%\n <\/td>\n 18%\n <\/td><\/tr>
                      \n 6.\n <\/td>\n Works contract\n supplied to central and state governments, local authorities for historical\n monuments, canals, dams, pipelines, plants for water supply, educational\n institutions, hospitals etc. & sub-contractor thereof \n <\/td>\n 12%\n <\/td>\n 18%\n <\/td><\/tr>
                      \n 7.\n <\/td>\n Works contract\n supplied to central and state governments, union territories & local\n authorities involving predominantly earthwork and sub-contracts thereof\n <\/td>\n 5%\n <\/td>\n 12%\n <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

                      Services -Rationalization of GST\nRates (Others) w.e.f. July 18, 2022<\/strong><\/p>\n\n\n\n

                      \n S.No.<\/strong>\n <\/td>\n Description<\/strong>\n <\/td>\n From<\/strong>\n <\/td>\n To<\/strong>\n <\/td><\/tr>
                      \n 1.\n <\/td>\n Transport of goods\n and passengers by ropeways.\n <\/td>\n 18%\n <\/td>\n 5%(with ITC of\n Service)\n <\/td><\/tr>
                      \n 2.\n <\/td>\n Renting of\n truck\/goods carriage where cost of fuel is included\n <\/td>\n 18%\n <\/td>\n 12%\n <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

                      Services -Rationalization of GST\n(Exemptions) w.e.f. July 18, 2022<\/strong><\/p>\n\n\n\n

                      \n S.No.<\/strong>\n <\/td>\n Description of Services<\/strong>\n <\/td><\/tr>
                      \n 1\n <\/td>\n Exemption on\n transport of passengers by air to and from NE states & Bagdograis\n <\/td><\/tr>
                      \n 2<\/strong>\n <\/td>Exemption on following services is being withdrawn. (a)Transportation by rail or a vessel of railway equipment and material. (b) storage or warehousing of commodities which attract tax (nuts, spices, copra, jaggery, cotton etc.) (c)Fumigation in a warehouse of agricultural produce. (d)Services by RBI,IRDA,SEBI,FSSAI, (e)GSTN. (f)Renting of residential dwelling to business entities (registered persons). (g)Services provided by the cord blood banks by way of preservation of stem cells   <\/td><\/tr>
                      \n 3<\/strong>\n <\/td>\n  \n \n \n \n Like CETPs,\n common bio-medical waste treatment facilities for treatment or disposal of\n biomedical waste shall be taxed at 12% so as to allow them ITC\n \n \n \n <\/strong>\n <\/td><\/tr>
                      \n 4<\/strong>\n <\/td>\n  \n \n \n \n Hotel accommodation priced uptoRs. 1000\/day shall be taxed at\n 12%\n \n \n \n <\/strong>\n <\/td><\/tr>
                      \n 5<\/strong>\n <\/td>\n  \n \n \n \n Room rent (excluding ICU) exceeding Rs5000 per day per patient\n charged by a hospital shall be taxed to the extent of amount charged for\n the room at 5% without ITC.\n \n \n \n <\/strong>\n <\/td><\/tr>
                      \n 6<\/strong>\n <\/td>\n  \n \n \n \n Tax exemption on training or coaching in recreational\n activities relating to arts or culture, or sports is being restricted to\n such services when supplied by an individual.\n \n \n \n <\/strong>\n <\/td><\/tr><\/tbody><\/table><\/figure>\n","protected":false},"excerpt":{"rendered":"

                      GST Calendar \u2013Compliances for the month of June\u20192022 Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source \u2018TDS\u2019) July 10,2022 GSTR-8 (Tax Collected at Source \u2018TCS\u2019) July 10,2022 GSTR-1 July 11,2022 IFF- Invoice furnishing facility (Availing QRMP) July 13,2022 GSTR-6 Input Service Distributor July 13,2022 GSTR-2B (Auto Generated Statement) July 14,2022 GSTR-3B July 20,2022 GSTR-5 (Non-Resident Taxable Person) July […]<\/p>\n","protected":false},"author":3,"featured_media":1103,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[253],"tags":[251,250,7,252],"class_list":["post-1108","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-indirect-tax","tag-amended","tag-compliances","tag-gst","tag-plc"],"yoast_head":"\nConcessional GST Rate | Benefits and Eligibility<\/title>\n<meta name=\"description\" content=\"Learn about the concessional GST rate and its benefits. 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