GST Council Announces Uniform GST Rates and Exemptions; Check For More Details

GST Council Announces Uniform GST Rates and Exemptions; Check For More Details

The GST Council has recommended a uniform GST rate of 12 per cent on all milk cans, irrespective of the material they are made of - be it steel, iron, or aluminum.

Oliviya KunjumonUpdated: Saturday, June 22, 2024, 08:23 PM IST
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GST Council Announces Uniform GST Rates and Exemptions; Check For More Details | X

The GST Council, on Friday, chaired by Finance Minister Nirmala Sitharaman in New Delhi announced a series of pivotal decisions. Moreover, these decisions are set to impact various sectors.

Uniform GST Rate on Essential Commodities

Milk Cans

The GST Council has recommended a uniform GST rate of 12 per cent on all milk cans, irrespective of the material they are made of - be it steel, iron, or aluminum.

Carton Boxes

Similarly, carton boxes - essential for packaging agricultural produce like apples in Himachal Pradesh and Jammu & Kashmir - will now attract a uniform 12 per cent GST rate

Water Sprinklers

All types of water sprinklers, including fire water sprinklers, will also be subject to a uniform 12 per cent GST rate.

Exemptions to Ease Tax Burden

Indian Railways

Services provided by Indian Railways, such as ticket purchases, waiting room charges, and cloak room services, will now be exempt from GST. This exemption extends to battery-operated vehicles and intra-railway services.

Hostel Accommodations

Hostel accommodations outside educational institutions, including those run by communities, will be exempt from GST.

However, this exemption is capped at charges up to Rs 20,000 per person per month, provided the student stays continuously for 90 days.

Further Regulatory Adjustments

Taxation Appeals: Revised Limits

In a bid to streamline tax dispute resolution, the GST Council has set new filing limits for appeals by Tax Authorities. The threshold for appeals before the Appellate Tribunal is set at Rs 20 lakh, Rs 1 crore for High Courts, and Rs 2 crore for the Supreme Court.

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